Governor Granholm’s Consumer Protections Against Payday Loan Providers Victories Legislative Endorsement

LANSING a€“ Governor Jennifer M. Granholm today applauded state lawmakers for approving laws she needed to protect people from payday lenders. The House and Senate provided best affirmation this week towards convention document on quarters expenses 4834 backed by state Rep. costs McConico (D-Detroit).

a€?Regulating payday loan providers is vital to preventing fraudulence, abuse, and illegal task,a€? Granholm said. a€?This statement contains stronger consumer defenses and certainly will protect Michigan people from the pitfalls of personal debt.a€?

a€?we made it clear to state lawmakers that we could accept absolutely nothing not as much as strong buyers protections and have always been satisfied that individuals worked along to make this happen,a€? Read More Governor Granholm’s Customers Protections Against Payday Loan Providers Victories Legislative Approval