With one-in-four Americans turning to questionable financial products like payday and auto-title loans, an unlikely group is stepping in to provide consumers with a less-costly alternative. Churches across the country are helping members escape the trap of revolving debt by aiding them in obtaining safer loans. [More]
Payday Alternatives
Ohio Senator Proposes Payday Loan Alternative That Allows Consumers To Access Early Tax Credits
By 1.9.15
For years, lawmakers have tossed around the idea of meaningful payday loan reform, from banning loans with annual percentage rates higher than 36% or looking to close loopholes that allow predatory lenders to claim tribal affiliation. This week, as Congress began its latest session, one lawmaker suggested a payday alternative that doesn’t involve another type of loan at all. [More]
