Thursday, March 26, 2020

About stimulus checks & delays: Quick-loan stores must not take advantage

A quick post about quick attention to stop quick-loan shops from making money off life-saving checks that may be in the mail soon:

Let's not allow usurious quick-lending firms from luring in unsophisticated borrowers whose delayed stimulus check 

Seal of the United States Department of the Treasury.svg

could become become worthless - - or the course of a bad, burdensome new debt - -  if hard-pressed borrowers essentially mortgage them in advance.

Current Wisconsin law allows inters rates on the loans to exceed 500%. 

And, yes, I get the advertisers;-free speech protections - - so Wisconsin legislators involved in these issues - - editorial boards and other policy-makers: can you at least raise awareness even though GOP-led scheduled sessions are nearly done with scheduled sessions for the year - - before vital federal government intentions in the form of checks-in-the-mail get canceled by predatory lending?

No comments:

Post a Comment