Wisconsin warns payday lenders not to take advantage of unemployed, underemployed amid coronavirus pandemic

In response to a skyrocketing number of people out of work or working reduced hours, the Wisconsin Department of Financial Institutions is warning payday lenders, title loan companies and other non-traditional lenders not to increase interest rates, fees or any costs of borrowing.

The state regulating agency issued its emergency guidelines for lenders earlier this month. The department expected many Wisconsinites will struggle to make ends meet during widespread coronavirus-related business shutdowns....
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Ken Notes: Please tell your friends, employees, associates, and others that the flow of cash has been slowed but most are understanding. Using payday and title type loans in NOT needed and will only get you deeper in both debt and trouble.