Moorhead councilwoman leads fee to prevent 'vicious period' of payday advances

Moorhead councilwoman leads fee to prevent 'vicious period' of payday advances

Moorhead City Councilwoman Heidi Durand says it is the right time to stop loans that are payday typically charge triple-digit rates of interest.

She asked the town's Human Rights Commission Wednesday, Feb. 19, to guide state legislation that will severely reduce interest levels or to back a feasible town plan to restrict prices.

Durand stated the "working poor or perhaps the most financially strapped or susceptible" are taking right out vast amounts of such loans in Clay County, including as much as thousands and thousands of bucks in interest re re re payments and costs taken off the regional economy.Read more