Bill would limit number of payday loans to any one borrower, By Alejandro Lazo, April 17, 2013, Los Angeles Times: “A bill before the California Legislature would restrict the number of payday loans to any one borrower — an attempt to break the ‘debt cycle’ that ensnares some of the state’s poorest residents. Senate Bill 515 would bar the high-cost, short-term lenders from making more than six loans a year to any borrower. The bill, set to go before the Senate Banking and Financial Services Committee on Wednesday, also extends the minimum term of a payday loan to 30 days from 15…”
Day: April 17, 2013
Supplemental Nutrition Assistance Program – Pennsylvania
Tougher standards mean fewer food stamp recipients in Pennsylvania, By Jan Murphy, April 15, 2013, Patriot-News: “Nearly a year ago, Gov. Tom Corbett put in place a policy that his administration said would limit government-provided food stamps to those truly in need. His administration re-introduced an asset test that had been abandoned four years before to help rein in spending at the Department of Public Welfare. The idea behind factoring in all of an applicant’s assets was to ensure that people with a certain amount of cash or other assets, such as second cars of a certain value or boats, tap those dollars first before dipping into the pool of taxpayer-funded food assistance. Previously, the department used income levels to determine eligibility…”