Why the pay day loan industry is decreasing in Missouri

Why the pay day loan industry is decreasing in Missouri

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In Missouri, house of several of the most relaxed customer financing regulations within the country, the pay day loan industry is shrinking for decades.

After the Legislature changed the state’s usury legislation to permit high-interest, short term installment loans within the 1990s, storefronts began showing up across their state. By 2005, there have been 1,335 lenders that are licensed.

Today, you will find 653. Read more