Here’s what the results are whenever pay day loans are banned

Here’s what the results are whenever pay day loans are banned

Weekly, In Theory assumes on an idea that is big the news and explores it from a variety of views. This we’re talking about payday lending week. Desire a primer? Catch up here.

Deyanira Del Rio is co-director of brand new Economy venture in nyc. Andy Morrison is promotions coordinator at brand New Economy venture.

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Imagine a land without any loans that are payday. Blinking neon indications marketing “Fast Cash” not any longer dot the landscape in low-income communities and communities of color, and nary a loan provider is allowed to draw out rates of interest of 400 per cent or more. This isn’t a far-fetched story book or some long-forgotten history. Continue reading “Here’s what the results are whenever pay day loans are banned”