Ivan Pierre Aguirre for The New York Times A business offering short-term loans near Fort Bliss in El Paso, Tex. Interest rates on such loans can reach as much as 80 percent. Petty Officer First Class Vernaye Kelly winces when roughly $350 is automatically deducted from her Navy paycheck twice a month. Month after month, […]
How Payday Lenders Escape State Crackdowns
Need money fast? Hope you don’t mind an annual interest rate of nearly 700 percent. By Paul Kiel on Wed. August 7, 2013 3:00 AM PDT Originally published at http://bit.ly/19eP4WD Thomas Hawk/Flickr This story first appeared on the ProPublica website and in the St. Louis Post-Dispatch. In 2008, payday lenders suffered a major defeat when […]
