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Religious group seeks payday lending regulations

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ST. PAUL -- Payday loan companies need more state regulation to keep poor Minnesotans out of a “debt trap,” the Joint Religious Legislative Coalition says.

“The vast majority of payday borrowers are caught in a trap with the first loan,” the group’s executive director, Brian Rusche, said Tuesday, urging state leaders to pass a regulation law next year.

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Don Davis
Don Davis has been the Forum Communications Minnesota Capitol Bureau chief since 2001, covering state government and politics for two dozen newspapers in the state. Don also blogs at Capital Chatter on Areavoices.
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