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Consumed by pay day loans: State legislators provide haven for loan providers deemed ‘predatory’

Consumed by pay day loans: State legislators provide haven for loan providers deemed ‘predatory’

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Dealing with federal government crackdowns round the nation, payday loan providers are thriving in gently managed Ca, where they lure thousands and thousands of hopeless borrowers payday loan with no credit check Indiana per year despite punishing, triple-digit rates of interest.

Seventeen states in addition to U.S. military have effectively banned payday advances, which attract low-income borrowers whom require an advance loan on paychecks. Georgia has announced payday financing to be racketeering that is felony. Continue reading Consumed by pay day loans: State legislators provide haven for loan providers deemed ‘predatory’