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

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

Pay day loans have already been an industry that is tough manage. From the 2013 ProPublica report reprinted in Mother Jones:

In 2008, payday loan providers suffered an important defeat whenever the Ohio legislature banned high-cost loans. That same 12 months, they destroyed once again if they dumped significantly more than $20 million into an attempt to move right back regulations: the general public voted against it by nearly two-to-one.

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

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