Reversing the Tide on payday advances in Mississippi

Reversing the Tide on payday advances in Mississippi

Southern Bancorp was a longtime advocate for policies, programs and items that improve family members security that is economic.

Part of this advocacy includes efforts to remove predatory methods such as payday financing. Within our latest Policy Points edition, “Turning a Cycle of Debt and Dependency into Financial Security: Rerouting Payday Loan people in Mississippi,” we look in the present payday lending environment in Mississippi; highlight the necessity for effective pay day loan alternative services and products and strong asset building policies by showcasing classes discovered in Arkansas; provide policy recommendations for increased monetary safety for Mississippians, including payday financing reform; and show a brand new alternative payday loan approach in Mississippi, the latest Roots Credit Partnership, that will be facilitated because of the Mississippi Center for Justice through old-fashioned banking institutions and companies through the entire state. Continue reading “Reversing the Tide on payday advances in Mississippi”