Let me make it clear about SD lawmaker really wants to tighten cash advance guidelines

Let me make it clear about SD lawmaker really wants to tighten cash advance guidelines

By Chet Brokaw

PIERRE – After negotiating with representatives associated with payday financing industry, Rep. Steve Hickey has arrived up with a proposition he hopes the Southern Dakota Legislature will pass to place limitations regarding the short-term loans he claims can trap the indegent in crippling rounds of financial obligation.

The Sioux Falls Republican stated industry representatives had been alarmed just last year by their effort that could have put a proposed law from the statewide ballot to cap interest levels for such loans.Continue reading