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One loan provider has won a lot more than $1.4 million in legal actions since pay day loan limit went into impact

Thursday, November 19th, 2020

One loan provider has won a lot more than $1.4 million in legal actions since pay day loan limit went into impact

SIOUX FALLS, S.D. (KELO) — South Dakotans are spending less after having a voter-approved cash advance cap in 2016, relating to an innovative new report through the Center for Responsible Lending.

A ripple effect of this cash advance globe continues to be experienced in Southern Dakota as numerous of legal actions have already been filed in only the previous few years against individuals who defaulted to their triple-digit interest loans. (more…)