After 5 years of fighting for state laws on predatory lending, Superior leaders could have discovered an answer to breaking the spiral that is downward of loans.
It don’t originate from Madison or by town decree.
The treatment originated from a credit union that is local.
A product similar to a payday loan at half the price by January, Superior Choice Credit Union will be offering Good money loans.
“It really is a fantastic private-sector response to predatory lending,” stated Superior Mayor Dave Ross. “You’re doing things that are cutting-edge when it comes to poorest borrowers in the neighborhood.”
“we are going for the opportunity,” stated Gary Elliott, SCCU president.
Predatory lending has a strong foothold in Wisconsin, the state that is only the country without any laws from the training.