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Oregon just had 60 payday loan storefronts close!

Date: Mon, 07/09/2007 - 15:03

Submitted by swedishgirl
on Mon, 07/09/2007 - 15:03

Posts: 326 Credits: [Donate]

Total Replies: 10


Hey, you guys. I don't usually start any threads around here, but this just made my day. I saw this article in The Oregonian newspaper and I just have to share it with everyone. The Oregon legislature recently passed a law stating that payday lenders, and title loans, have to cap their rates at 36% or so. It became effective June 1st, so now the rats are running scared. Read the article....the Powell Blvd they mention in the article is a pretty run down, low income part of town.
http://www.oregonlive.com/news/oregonian/index.ssf?/base/news/118394432077940.xml&coll=7&thispage=1