Posted inNeighborhood News, Politics

Payday Loans

In the past decade, bright green storefronts have been popping up all over Milwaukee, with dollar signs and huge posters in the window advertising, “Up to $2,000 Cash Loans.” Inside, long lines of low-income people wait each day to take out a payday loan — the most expensive legal form of credit. After completing the […]

Posted inNeighborhood News

Doyle to Sign Legislation Against Predatory Lenders

In response to a disturbing increase in unscrupulous home lending practices and an alarming increase in foreclosures due to these loans, on Thursday morning, April 15, Governor Jim Doyle will sign into law an act designed to protect unwary homeowners from predatory lenders. Predatory loans are designed to strip the homeowner of the equity they have in their home, and generate huge fees for the lender, regardless of the borrower’s ability to pay back the loan…