Payday loan industry targeted by Michigan lawmakers | Crain's Detroit Business crainsdetroit.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from crainsdetroit.com Daily Mail and Mail on Sunday newspapers.
Testimony was heard Wednesday on proposed legislation to cap the rates that payday lenders in Michigan can charge, designed to prevent what was called “a debt trap by design.” Two bills were …