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Create a More Connected Minnesota

Minnesota lawmakers say a loophole in
state law is allowing lenders to take money away from people who
want an advance on their paycheck.


      Sen. Kevin Dahle of Northfield and Rep. Jim Davnie of
Minneapolis are due to discuss legislation Wednesday to change
payday lending practices.


      They say the technicality has cost Minnesotans nearly $6 million
since 2003.


      An industry group for payday lenders has resisted similar
legislation elsehwere by noting that its charges are cheaper than
the alternatives for desperate borrowers.

Minnesota lawmakers say a loophole in
state law is allowing lenders to take money away from people who
want an advance on their paycheck.


Minn. lawmakers challenge payday lending

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Create a More Connected Minnesota