Predatory Lending Workshop - Amscot - No longer needed!

Tuesday, December 16, 2008

12/12/08 City Counci will no longer need to meet to discuss our relationship with Amscot since the administration cancelled the contract. This is a victory for financial common sense.

12/05/08
City Council will meet to discuss my request that the City not encourage customers to go to Amscot to be charged $1 to pay their Water Bill. The City
is planning a utility bill insert promoting this product. My concern is that Amscot specializes in payday loans which charge as much as 250% interest for short-term loans. This is legal loan-sharking in my opinion and the City should not be encouraging people to go to these businesses.