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Category Archives: cash store loans payday loans near me

On the web Lenders’ High-Priced Loans Cripple Families, Prohibited in a few States

On the web Lenders’ High-Priced Loans Cripple Families, Prohibited in a few States

Some online loan providers peddle high-priced, short-term loans that cripple families and may also be illegal. By Gary Rivlin.

The desperate borrowed money from a loan shark, who would tack on finance charges typically working out to an annual interest rate of maybe 200 percent in the old days. Now, you can find online loan providers who charge costs that work away to interest levels of slightly below 800 per cent each year.