New spend day loan bill could save the industry. Or give it time to become more lucrative.

New spend day loan bill could save the industry. Or give it time to become more lucrative.

A bill within the Legislature that will end in larger loans and higher costs is something special up to a predatory industry for critics of payday lenders.

At an appearance, they may be appropriate. Floridians, mostly in bad areas, took away a great 7.7 million pay time loans over a year in 2016 and 2017. And nearly a third of all of the customers took away at the least 12 loans that year, an indicator that is away from “debt trap” that lenders take advantage of, professionals state.

Though the bill is cruising through the Legislature with bipartisan help.

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