By Tom Kertscher on Sunday, November 28th, 2010 at 9:00 a.m.
Only at PolitiFact Wisconsin, we seldom see terms as provocative and pungent as “usurious vipers. “
We want to know more when we do.
In this instance, it absolutely was Wisconsin state Sen. Glenn Grothman (R-West Bend) whom known snakes recharging interest that is exorbitant in present commentary about payday lenders.
Pay day loan operations — such as for example Check ’n Go, pay day loan shop and Check-Cash Advance — make short-term loans. You sign that loan contract, write a post-dated check and get the cash. The lender holds down on cashing your check until your payday that is next fourteen days.
Rates of interest can run high.
Wisconsin has 482 payday loan providers; western Bend, based on Grothman, has eight of these.
Grothman, whom opposes operations that are such made their snakes remark in reaction to news that payday loan providers are organizing a push to move straight straight straight back laws on the company set to just just take impact in Wisconsin on Jan. 1, 2011. Continue reading “Wisconsin State Sen. Glenn Grothman claims loan that is payday try not to occur in Minnesota”