Latinos, Blacks and seniors targeted for high expense loans

Latinos, Blacks and seniors targeted for high expense loans

Payday Lenders Strip 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 a lot more than $2.5 billion in charges on high-cost payday advances throughout the decade that is last relating to brand brand new research by the Center for accountable Lending (CRL). Further, within the most recently reported one-year duration, June 2014 through May 2015, over $311 million in charges ended up being paid on loans averaging almost $400. These along with other findings from a written report entitled Perfect Storm: Payday Lenders Harm people Despite State Law refute current claims that an state that is existing has protected customers into the Sunshine State and really should be utilized being a model for the country. Continue reading “Latinos, Blacks and seniors targeted for high expense loans”