Payday Lenders Strip payday loans Missouri Florida Borrowers of $2.5 Billion in charges, Despite State Law
Contact: Joe Rendeiro jrendeiro@nclr.org 202-776-1566
MIAMI—Floridians have actually compensated significantly more than $2.5 billion in costs on high-cost payday advances on the decade that is last relating to brand brand brand new research because of the middle for accountable Lending (CRL). Further, into the most recently reported period that is one-year June 2014 through May 2015, over $311 million in costs ended up being compensated on loans averaging nearly $400. These as well as other findings from a written report entitled Perfect Storm: Payday Lenders Harm people Despite State Law refute present claims that the current state legislation has protected customers when you look at the Sunshine State and may be utilized being a model for the country.Continue Reading