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Regional add-in that is lawmaker’s help payday loan providers skirt town certification costs, advocates state

A bunch from Faith Voices of Southwest Missouri additionally the the indegent’s Campaign protest pay day loans outs

After several years of debate, the Springfield City Council voted Monday to impose brand new laws on payday loan providers whose high rates of interest can cause a “debt trap” for hopeless borrowers.

One of the shows had been an agenda to impose $5,000 yearly licensing charges at the mercy of voter approval in August, that could get toward enforcing the town’s guidelines, assisting individuals with debt and providing options to short-term loans.

But Republican lawmakers in Jefferson City could have other some ideas.

For action early in the day Monday, Rep.