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Predatory payday lenders hit a brand new low

Predatory payday lenders hit a brand new low

They’ll probably outdo on their own once more quickly. Heck, you can bet the owners of some bottom-feeding, high interest loan company in eastern North Carolina are having a meeting in which they’re discussing how to market their “product” to hurricane victims as you read this.

Having said that, this tale from present version of Education Week describes a fraud which is hard to top.

It states that the lending that is payday — those fun folks who make bi weekly loans with their struggling other residents at 200, 300 or 400% interest — are now actually pressing their rip-off on parents of kids going back into college.

An Education Week analysis discovered dozens of articles on Facebook and Twitter focusing on parents whom could need a “back to school” loan. (mais…)

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