December 17

Oklahoma faith leaders, other advocacy teams demand payday financing reform

Oklahoma faith leaders, other advocacy teams demand payday financing reform

Elise Robillard, of Norman, recalls whenever she had been a struggling, cash-strapped instructor and payday advances appeared to be a stopgap solution to achieve much-needed funds.

” As being a mom that is single I happened to be in a situation where I became one flat tire or one unwell kid far from a monetary crisis,” Robillard said.

Thursday, she joined up with a small grouping of leaders from faith agencies as well as other companies calling for reform of payday and car name loans in Oklahoma.

Robillard, 51, stated just exactly exactly what she thought ended up being the right fix that is quick her economic woes actually compounded her cash woes, yet others going to a news seminar in the state Capitol said she actually isn’t alone.

Oklahomans would be the number 1 users of pay day loans per capita within the country, based on a 2012 Pew Charitable Trust research, stated the Rev. Lori Walke, connect pastor of Mayflower Congregational United Church of Christ.

“The statistics are shocking. It really is clear payday financing is driving Oklahomans deeper and deeper into poverty,” Walke stated at Thursday’s news seminar.

She stated the news headlines meeting had been called to urge legislators and citizens that are concerned do more to reform payday loan providers from “predatory lending” with excessive rates of interest that continue Oklahomans trapped in a period of financial obligation it is difficult to get free from. Continue reading

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