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Moorhead cracks straight straight down on payday lending.City officials in Moorhead, Minn

Moorhead cracks straight straight down on payday lending.City officials in Moorhead, Minn

City officials in Moorhead, Minn., state an ordinance that is new pay day loan providers could be the to begin its type in Minnesota and among the first into the country.

Moorhead City Council member Heidi Durand happens to be immersed when you look at the dilemma of pay day loans for two years after she discovered regional residents had been spending thousands and thousands of bucks per year on temporary interest that is high.

“I heard horror stories we heard individual experiences from individuals, also it really was deplorable if you ask me, it truly made me personally unwell,” she stated.

Durand worked along with other town leaders and town staff to build up exactly just what she calls an approach that is unique using licensing demands to restrict payday advances.