Helper Foundation

Beware of Iowa Payday Lenders: New Rules Are Coming

Last year, Iowa payday lenders issued more than $ 220 million in short-term loans, charging an average annual interest rate of over 260%. Critics complain that these sky-high interest rates are proof of the laxity of Iowa’s lending laws and that state lawmakers have consistently derailed efforts to cap rates …

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Service members made vulnerable to payday loans

Photo A business offering short term loans near Fort Bliss in El Paso, Texas. The interest rates on these loans can reach up to 80%.Credit Ivan Pierre Aguirre for the New York Times Petty Officer First Class Vernaye Kelly grimaces when about $ 350 is automatically deducted from his twice-monthly …

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