January 8, 2017

"Utah payday lenders' average interest rate roughly double that of 1960s Mafia loans" SLT headline

Lee Davidson reports in The Salt Lake Tribune that Utah payday lenders charged an average 459% annual interest on tens of thousands of loans issued in 2015, according to the Utah Department of Financial Institutions.  Some Utah payday lenders charged annual interest as high as 1,408%  — or $27 a week on a $100 loan.

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