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Utah Representative Proposes Bill to cease Payday Lenders From Using Bail Cash from Borrowers

Utah Representative Proposes Bill to cease Payday Lenders From Using Bail Cash from Borrowers

Debtors prisons had been prohibited by Congress in 1833, however a ProPublica article that revealed the sweeping abilities of high-interest loan providers in Utah caught the interest of 1 legislator. Now, he’s wanting to do some worthwhile thing about it.

Feb. 14, 2020, 5 17 p.m. EST

Series The Brand New Debtors Prisons

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A Utah lawmaker has proposed a bill to quit high-interest loan providers from seizing bail funds from borrowers whom don’t repay their loans. The bill, introduced when you l k at the state’s House of Representatives this week, arrived as a result up to a ProPublica research in December. This article revealed that payday loan providers along with other high-interest creditors regularly sue borrowers in Utah’s tiny claims courts and just take the bail cash of these who will be arrested, and often jailed, for lacking a hearing. Continuer la lecture de Utah Representative Proposes Bill to cease Payday Lenders From Using Bail Cash from Borrowers