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The exorbitantly high interest rates and short repayment periods that come along with payday loans here in Michigan have left many Michiganders drowning in debt. These are people looking for a life raft when unexpected expenses arise, but far too often they find themselves worse off, struggling to keep their heads above water.

The Michigan League for Public Policy has a long history of calling for the reform of payday lending practices that prey upon people who are already financially vulnerable, which is why we as an organization support a bill that was recently passed with bipartisan support by the Michigan Senate and is currently under consideration by the Michigan House.

Read more in Michigan Advance.

Column also appeared in:
News from the States
City Pulse