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Conference held in Pittsburg to push for title and payday loan reform

Conference held in Pittsburg to push for title and payday loan reform

Group wishes tighter regulations on loan providers

PITTSBURG, Kan. – Protesters in Kansas break the rules at whatever they see as predatory payday loans, plus they want lawmakers to take action.

A payday or name loan is that loan with a rate that is high-interest a fast payoff duration, frequently per month or less.

In Missouri, borrowers usually takes down $500 or less, with a payoff of 14 to 31 times, and interest and fees capped at 75-percent associated with loan.

In Kansas, the restriction is $500 as well as the maximum term is 1 month, but rates of interest is often as high as 391-percent.

Something Pittsburg resident Bill Collier experienced hand that is first their wife passed away of cancer tumors six years ago.

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