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New Documentary Details ‘David and Goliath’ Battle Against Payday Lenders Southern Dakota Ballot Measure

New Documentary Details ‘David and Goliath’ Battle Against Payday Lenders Southern Dakota Ballot Measure

Movie shows sky failed to fall whenever payday loan providers stopped recharging 574% interest

South Dakota – a fresh 30-minute documentary released today by the Center for accountable Lending (CRL), in c peration with South Dakotans for Responsible Lending, follows the motion to cap the state’s payday, automobile name, and installment loan interest levels, which formerly soared as much as 574per cent. The movie catches the relentless character associated with the broad coalition of South Dakotans that t k from the securely entrenched and well-financed predatory lending industry – and won. A resounding 76 per cent of voters passed Initiated Measure 21, which capped interest levels on these loans at 36%.

Allow My People Go South Dakotans Stop Predatory Lending features tales from individuals stuck within the trap among these high-cost loans at that time that predatory loan providers had rein that is free charge triple-digit interest levels.