Maine Bureau of Credit Score Protection Formal Testifies Before The Senate Aging Committee
WASHINGTON, DC—Even though Maine guidelines prohibit the type of abusive, actually high-interest, short-term funding strategies often associated with “payday” loans, this specific unscrupulous funding nonetheless occurs in Maine through Internet-based funding businesses, driving numerous customers further into economic responsibility. The Special Committee on Aging, of which payday loans Nottinghamshire Senator Collins could be the Ranking Member, analyzed issues connected to pay day loans and deposit advance products and services throughout a hearing entitled, “Payday Loans: Short-Term Solution or Long Term Problem? ”