IFCL happens to be working together with over 60 faith-based, solution and groups that are military oppose SB 613, an expansion of payday financing services. Begin to see the current up-date from our lovers at Indiana Institute for performing Families
Wide Coalition Gathers at Statehouse to Oppose Large-Scale Expansion of Loans at Loansharking Rates in SB 613
Indianapolis, IN – Indiana veterans’ groups, faith leaders, social solution agencies, and community advocates collected Monday in the Statehouse to deliver a powerful message to your Indiana House of Representatives: Reject Senate Bill 613.
Advocates moved through the bill by using this chart and offered those present a duplicate of the bill analysis, noting that while Indiana made an exemption that is extremely limited its loansharking legislation in 2002, SB 613 would start the floodgates to high-cost financing by authorizing numerous larger, longer products outside that 72% cap and also rewriting the meaning of loansharking it self. It will considerably boost the allowable expenses on all variety of customer loans – from automotive loans to installment that is personal personal lines of credit and beyond. Continue reading “IFCL joins coalition against payday financing expansion”