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Moorhead officials explore alternatives to payday lending

Moorhead officials explore alternatives to payday lending MOORHEAD-City and state officials collected right right here Monday, June 4, to go over methods to assist Moorhead residents avoid what one organization that is nonprofit the “debt trap” of pay day loans. Exodus Lending, which helped arrange Monday’s meeting, claims many residents in the area whom sign up for pay day loans...

Those loans additionally will be unlawful in Tennessee, which caps payday advances at an APR of approximately 460 %.

Those loans additionally will be unlawful in Tennessee, which caps payday advances at an APR of approximately 460 %. But Tennessee shied far from enforcing their state’s criminal usury rule, that could have landed leaders of Brown’s Chattanooga syndicate in prison, Pickrell stated. “It is usury, and when the prosecutors had been of a brain to get following this guy,...