Utah rep proposes bill to prevent lenders that are payday using bail funds from borrowers

Utah rep proposes bill to prevent lenders that are payday using bail funds from borrowers

For many years, Utah has provided a good regulatory environment for high-interest lenders.

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This informative article initially appeared on ProPublica.

A Utah lawmaker has proposed a bill to quit lenders that are high-interest seizing bail cash from borrowers that don't repay their loans. The bill, introduced within the state's House of Representatives this came in response to a ProPublica investigation in December week. This article revealed that payday loan providers along with other loan that is high-interest regularly sue borrowers in Utah's tiny claims courts and just take the bail cash of these who're arrested, and quite often jailed, for lacking a hearing. (more…)

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