State and local leaders joined with activists at the launch of a campaign to change payday laws in Missouri and nationwide. The event was hosted by Communities Creating Opportunities (CCO).
Payday loans sap roughly $26 million dollars a year from the Kansas City economy according to a figure from the Center for Responsible Lending. Mayor Sly James says this needs to change.
“There are more payday loan shops in Missouri than Walmarts, McDonalds, and Starbucks combined,” says Mayor Sly James.