User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


42° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

KELOLAND.com | Sioux Falls News & Weather, South Dakota News & Weather, Minnesota and Iowa News

[0] My Saved Articles
Find local businesses
on the KELO Pages!

 

Clearing Up Payday Loan Legislation

February 21, 2007, 5:00 PM by Katie Janssen

Clearing Up Payday Loan Legislation
Wednesday, lawmakers in Pierre tried to clear up some confusion over a law that puts restrictions on payday loan shops. 

Legislators thought they had limited the amount of money people can borrow, but a technicality is allowing some to skirt the law. 

The bright signs say you can get cash fast... but credit counselors warn the fees and interest you'll pay loan companies will only hurt your finances. 

Lawmakers passed a bill a couple years ago, saying one person could only borrow $500 at a time, from any one company. But an audit showed people were getting several $500 loans at the same time, from the same loan shops. 

Businesses said they thought the limit was only on the amount... and not on how many loans they could give out. 

Counselors say clearing up the language would keep people from owing too much money at once. They also say if you're using payday loans to manage your finances, you're probably in worse trouble than you think. 

Click here for resources that can help.

Previous Story

Next Story




 
Find Local Businesses on KELO Pages!

You may also like

Parker Teen Dies In One Vehicle Crash

4/12/2014 10:18 AM

16-year-old Tonya Anderson from Parker, SD died in a one vehicle crash west of Sioux Falls on Highway 42 on Friday.

Full Story
SF Woman Dies In Crash Near Brookings

4/12/2014 10:34 AM

A Sioux Falls woman died in a two vehicle crash on I-29 south of Brookings.

Full Story
Missing Girls Case Update On Tuesday

4/15/2014 7:15 AM

Authorities plan to release an update on the investigation into the 1971 disappearance of two South Dakota girls.

Full Story
Remains Found In Car Are Missing Girls

4/15/2014 1:39 PM

After more than 40 years, the families of two missing teenage girls now know what happened to them.

Full Story
Strange Haze Covers Sioux Falls

4/12/2014 5:03 PM

A strange haze with a foul odor hung over the City of Sioux Falls today.

Full Story


Events

 
 
KELOLAND TV: 501 S. Phillips Avenue, Sioux Falls, SD 57104
Phone: 605.336.1100 · Breaking News call: 1-800-888-5356
Web Site Design and Custom Programming By: Lawrence & Schiller© 2014 KELO-TV -- KELOLAND.COM -- ALL RIGHTS RESERVED