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Coalition launches coach advertisement campaign to discourage pay day loan usage among San Jose residents

Coalition launches coach advertisement campaign to discourage pay day loan usage among San Jose residents

Community groups and advocates stepped up their campaign contrary to the predatory payday loan industry this by launching bus advertisements on VTA??™s Route 22 and other bus lines in Santa Clara County week. The ???Don??™t Get Trapped!??? ads build in the City of San Jose??™s ordinance that is recent payday financing within the town.

The San Jose City Council recently voted 9-1 to accept a land usage ordinance banning new cash advance operations from starting in low-income areas and capping the full total wide range of pay day loan outlets permitted in the whole town during the present range 39. San Jose could be the city that is largest in the united states to impose a capon how many payday lending stores, in addition to very very first to look at a ban on brand new payday financing organizations in low-income census tracts. The Santa Clara County Board of Supervisors additionally voted unanimously to impose a permanent moratorium on payday loan companies in unincorporated aspects of the county.

???Families residing paycheck to paycheck, struggling to help make ends satisfy, often fall victim to payday lenders??™ offers of fast, convenient payday loans. Borrowers often don??™t recognize that a two-week, $300 loan eventually ends up costing a huge selection of bucks to settle, after their circumstances cause them to over and over repeatedly borrow exactly just just what in essence is similar $300 again and again,??? said Kyra Kazantzis of Public Interest law practice, an application for the Law Foundation of Silicon Valley. Clic para leer más— »

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