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…

Want More Free?

To access 2 more articles, please log in or register for free.

Registered users get access to a limited number of free articles every month.

Register Now

Already registered? Login to access more free articles.

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.

- Advertisement -