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Lawmakers protect name loan businesses while borrowers spend sky-high interest levels

exactly just How millions in campaign contributions assist block regulations to crack straight straight down on lending abuses

Today this story was co-published with USA.

Introduction

After several years of economic good and the bad, Gloria Whitaker required some cash that is quick help to keep a roof over her mind.

So she and her son, Devon, went along to a TitleBucks shop in Las Vegas and took down a $2,000 loan, pledging their gold 2002 Ford F-150 truck as security.

Whitaker, 66, said nobody verified she, or her son that is jobless repay the mortgage, which carried interest of 121.545 per cent. Weiterlesen

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