Ideas Prácticas

WHEREAS Washington ranks saturated in studies on customer defenses for customers on payday advances; and

WHEREAS Washington’s payday lenders have actually lost three-quarters of these company within the 5 years since a challenging brand new state legislation limiting the high-cost loans marketed to bad families took impact; and

WHEREAS the industry, led by Seattle-based Moneytree, is lobbying state lawmakers to revamp what the law states. Loan providers are supporting legislation – SB5899 and HB1922 -to expel conventional two-week payday advances and replace these with “installment loans” that will stretch repayment out for approximately a 12 months; and

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