Nonprofit leads charge to loan alternatives

FUND RAISING: Frustrated with getting payday-loan controls passed in Rhode Island, some activists launched a nonprofit, Capital Good Fund. Pictured above is Capital Good Fund Loan Systems Manager Jose Fonseca. / PBN PHOTO/RUPERT WHITELEY
FUND RAISING: Frustrated with getting payday-loan controls passed in Rhode Island, some activists launched a nonprofit, Capital Good Fund. Pictured above is Capital Good Fund Loan Systems Manager Jose Fonseca. / PBN PHOTO/RUPERT WHITELEY
For more than four years now, a coalition of anti-poverty activists has been pushing for controls on neighborhood payday-loan shops that lend cash for two weeks at an astonishingly high interest rate. While the many shops advertise easy-to-get two-week loans at an interest rate of just 10 percent, their critics charge that’s deception. Extend the…

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