Archive for the ‘online loans payday’ Category

Initiative 428: a achievement that is historical. The long road to consumer protections in payday lending

this web site post is in collaboration with Tori Ostenso, Economic Justice community organizer and Bhagya Pushkaran, Economic Justice intern.

Over 700,000 Nebraskans, or higher 83%, voted FOR Initiative 428 into the 2020 election to reform pay day loans and limit interest at 36% APR (annual percentage rate) (1, 2). , This landslide triumph over predatory financing techniques in Nebraska lead from many years of appropriate research, policy advocacy, and community organizing at the state and level that is national.

In this web site, we’re searching right back at over a decade’s worth of advocacy efforts to modify the payday financing industry so that you can appreciate the value associated with the Initiative 428 victory and appear ahead at what to expect as Nebraska implements the new measure.

Although we, at Nebraska Appleseed, been employed by to eliminate poverty since our founding, our participation in payday financing reform started in 2008. We supported several legislative bills reforming lending that is payday Senator Amanda McGill (3) and Senator Danielle Conrad. Neither of it was made by these bills away from committee. (4) in ’09, Senator McGill’s bill (5) was reintroduced but nevertheless would not allow it to be away from committee. Read More »