Pay day loan Group Slapped With Record $1.3B Fine for 700 Percent Lending Rates

Pay day loan Group Slapped With Record $1.3B Fine for 700 Percent Lending Rates

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A judge that is federal Nevada stated expert racecar driver Scott Tucker and many of their businesses owe $1.27 billion to your Federal Trade Commission after methodically deceiving payday financing clients in regards to the price of their loans.

There Are New Rules to Limit Payday Lending Debt Traps

Within one instance, lending documents suggested that a person whom borrowed $500 would just have a finance fee of $150, for an overall total re re payment of $650 — nevertheless the actual finance cost had been $1,425. Читать/смотреть далее