Moorhead councilwoman leads cost to prevent ‘vicious period’ of payday advances

Moorhead councilwoman leads cost to prevent ‘vicious period’ of payday advances

Moorhead City Councilwoman Heidi Durand says it is the right time to stop payday advances that typically charge triple-digit rates of interest.

She asked the town’s Human Rights Commission Wednesday, Feb. 19, to guide state legislation that could seriously reduce rates of interest or to back a feasible city plan to restrict prices.

Durand stated the “working poor or the many financially strapped or susceptible” are taking right out vast amounts of these loans in Clay County, including as much as thousands of bucks in interest re re re payments and charges taken out of the economy that is local.Continue reading