Trump to Payday Lenders: Let’s Rip America Off Once More

Trump to Payday Lenders: Let’s Rip America Off Once More

Payday advances have already been a tough industry to manage. From a 2013 ProPublica report reprinted in mom Jones:

In 2008, payday loan providers suffered a significant beat whenever the Ohio legislature banned high-cost loans. That exact same 12 months, they destroyed once more if they dumped significantly more than $20 million into an attempt to move right straight straight back what the law states: the general public voted against it by almost two-to-one.

But 5 years later on, a huge selection of pay day loan shops nevertheless run in Ohio, charging you rates that are annual can approach 700 %.

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