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Lehigh Valley Military Affairs Council’s We We We Blog. Kerry Smith, Community Legal Services Warns regarding the Risk

Forward Observer — Pending Payday Lending Legislation: A Debt Trap for Military Veterans

Kerry Smith, Staff Attorney, Community Legal Services of Philadelphia, an advocate that is leading low earnings residents within the Philadelphia area, talked into the Council at its 20 March company conference as an associate of a coalition of over 90 organizations – like the Community Action Committee of Lehigh Valley, MOAA of Pennsylvania, the Navy aquatic Corps Relief community, the Veterans Leadership Program of Western Pennsylvania; while the Council of Churches, AFL-CIO and AARP of Pennsylvania – who possess issues in regards to the present lobbying allowing payday financing in Pennsylvania, that is presently unlawful.

They consider this variety of lending a predatory training and Ms. Smith explained why: a $300 loan, for instance, is good for $42 in costs and interest therefore the requirement to electronically pay in the payday that is next in 2 days).