
Payday Lending and the Cycle of Poverty
A bill before state lawmakers would allow payday lenders to offer $2,500 loans, up from the $600 limit. During this difficult time of the Coronavirus outbreak, MCC remains concerned about HB 5097, which would trap struggling Michiganders in a cycle of debt. The Word from Lansing highlights issues with expanding payday lending, as well as the importance of focusing on alternatives that improve financial literacy. Read more…