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Tighter rules for name pawns in Georgia simply just take another action December 22, 2020

Posted by ambubhai in : Washington Payday Loan , add a comment

Tighter rules for name pawns in Georgia simply just take another action

The Georgia State Capitol Building in Atlanta.

ATLANTA — Georgia lawmakers have actually advanced legislation to cap interest levels charged by the state’s auto-title pawn industry that customer advocates claim trap low-income families with unjust financing techniques.

Title pawns proliferated within the state adhering to a crackdown significantly more than a ten years ago on conventional payday financing, in which cash-strapped people with bad credit remove tiny loans at high rates of interest.

A person’s vehicle is used as collateral for a loan without the need for a credit check with title pawns. (more…)

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