FAAMATY

Iowa payday creditors beware: New principles are arriving

Iowa payday creditors beware: New principles are arriving Just the past year, Iowa’s payday lenders issued more than $220 million in short term money — getting a typical annual rate of interest of greater than 260 per cent. Experts complain that people sky-high interest levels are generally proof Iowa’s lax lending laws and regulations, and therefore condition legislators get constantly derailed endeavors to cap numbers which help applicants. Right now, recently proposed...

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