Weekly, In Theory assumes an idea that is big the news and explores it from a selection of views. This weвЂ™re talking about payday lending week. Require a primer? Get caught up here.
Deyanira Del Rio is co-director of brand new Economy venture in ny. 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 signs marketing вЂњFast CashвЂќ not any longer dot the landscape in low-income communities and communities of color, and nary a loan provider is allowed to draw out interest levels of 400 % or over. It is not a far-fetched story book or some long-forgotten history. It had been the truth across almost all of the united states of america through to the 1990s, whenever economic deregulation and the gutting of state usury guidelines enabled the payday financing industry to proliferate. (meer…)