IFCL joins coalition against payday lending expansion

IFCL joins coalition against payday lending expansion

IFCL was working together with over 60 faith-based, service and army teams to oppose SB 613, an expansion of payday financing solutions. Begin to see the current enhance from our partners at Indiana Institute for performing Families

Broad Coalition Gathers at Statehouse to Oppose expansion that is large-Scale of at Loansharking prices

Indianapolis, IN – Indiana veterans’ groups, faith leaders, social solution agencies, and community advocates collected Monday in the Statehouse to deliver a powerful message towards the Indiana House of Representatives: Reject Senate Bill 613.

Advocates strolled through the bill making use of this chart and offered those current a duplicate of the bill analysis, noting that while Indiana made an exemption that is extremely limited its loansharking legislation in 2002, SB 613 would open the floodgates to high-cost lending by authorizing numerous larger, longer products outside that 72% limit and also rewriting the meaning of loansharking it self.