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Triple-digit interest rates are no laughing matter for those who take out payday loans

Triple-digit interest rates are no laughing matter for those who take out payday loans

A while later, the session recessed and Kraninger and a handful of her aides repaired to the women’s room. A ProPublica reporter was there, too. The group lingered, seeming to relish what they considered a triumph in the hearing room. I stole that calculator, Kathy, one of the aides said. It’s ours! It’s ours now! Kraninger and her team laughed.

A sum as little as $100, combined with such rates, can lead a borrower into long-term financial dependency.

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That’s what happened to Maria Dichter. Continue reading Triple-digit interest rates are no laughing matter for those who take out payday loans