Monthly Archives: December 2020

New payday loan ruling is bad news for borrowers

Would-be lenders have long tried to evade state usury laws by using what are known as bank leasing programs: an out-of-state bank, which is not bound by interest rate caps in the state of the payday lender, acts as a front to the company that is actually originating a high interest loan that they could not legally take out on ...

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