Thousands of Idaho residents are strapped for cash. The economic recession has devastated the lives of Idahoans across the state. As the need to make the dollar stretch increase, financial resources from traditional banks decrease.
Payday loan centers have seized an opportunity to profit from the misfortune of those in need. Predatory lenders have lined the sidewalks of low-income and communities of color with promises of instant cash and no credit checks. Having no available alternatives, residents are left to turn to payday loan centers for relief; but that relief keeps coming with a cycle of interest rates as high or higher than 520%. Continue reading “Taking on Predatory Lending in Idaho”