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ProPublica logo design. Utah Representative Proposes Bill to end Payday Lenders From Using Bail Cash from Borrowers
Utah Representative Proposes Bill to end Payday Lenders From Using Bail Cash from Borrowers
Debtors prisons had been prohibited by Congress in 1833, but a ProPublica article that revealed the sweeping capabilities of high-interest loan providers in Utah caught the interest of 1 legislator. Now, he’s wanting to do some worthwhile thing about it.
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A Utah lawmaker has proposed a bill to quit high-interest loan providers from seizing bail cash from borrowers whom don’t repay their loans. The balance, introduced when you look at the state’s House of Representatives this week, arrived in reaction up to a ProPublica research in December. This article revealed that payday loan providers as well as other high-interest creditors regularly sue borrowers in Utah’s tiny claims courts and use the bail money of these that are arrested, and often jailed, for lacking a hearing. (more…)