The District of Columbia is fighting the battle that many other areas of the United States are fighting, and no, we don’t mean the one overseas. They are fighting the payday lending battle.
District of Columbia Payday Lending Alternatives
Sometimes people need more long-term financial help than a payday loan offers. Are you one of those people? No problem. In addition to our payday loan services, we are pleased to offer a variety of other loan programs, including credit cards. personal loans. debt consolidation. and credit counseling classes.
District of Columbia Payday Loan Laws
Under the D.C. Payday Loan Consumer Protection Act of 2007, which became effective on November 24, 2007, high-interest loans based on the holding of a check are no longer authorized. Personal loans are subject to the usury cap in the District of Columbia which is 24% (as of May 2008). Companies that offer payday
loans to District of Columbia residents are subject to these laws.
Employment Statistics in the District of Columbia
According to the United States Department of Labor: The unemployment rate in the District of Columbia was 5.4 as of January 2006. This is a considerable drop from January 2005’s 7.0. Unemployment rates have been fairly rocky over the past ten years in the District of Columbia; they have ranged from 4.8 to 9.0.
As of January 2006 there were 15,810 unemployed people in the District of Columbia.
* Payday Today is not a payday lender or broker. We provide research and information about payday lenders and products, and are not necessarily affiliated with the companies featured on this site. Availability of products and services varies by state. Not all independent lenders will approve you for a loan or can provide you with up to $1,000 on your first loan.
Category: Payday loans