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Short-term Lender Cap Could Cut off Last Resort of Many with Low Income
Without a pawnshop and a gold onyx ring, Patrick Heinaman's grandmother might have missed her daughter's funeral. The short-term loan put the 412-mile trip to Port Lavaca, Texas, within reach. It was costly, but her only option. But Heinaman's grandmother and other low-income borrowers would have a harder time getting an emergency loan of that type if the legislation Congress is considering, which would cap interest rates on all consumer credit transactions, passes. ...more...
Giving New Life to an Old Profession
Owner of eight pawnshops says perceptions are wrong, and he aims to change them
DURHAM – If Bob Moulton hadn’t ended up in the family business, he might have been an actor: picture “Tick Tock” McLaughlin, the William H. Macy character in the movie “Seabiscuit.”
Redd ...more...
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