Detroit Metro Times

  • Tony Webster/Flickr
  • Many loan that is payday in Michigan re-borrow within 60 times.

Customer advocates state strong reforms are necessary to better regulate the payday financing industry in Michigan, and additionally they may just have the info to show it.

A report that is new the middle for Responsible Lending unearthed that within the previous 5 years, payday lenders have taken over fifty percent a billion bucks in charges from customers in Michigan, including $94 million in 2016. Read more