Categories
title loans interest rate florida

Is Congress expanding credit for the indegent or enabling high-interest loan providers?

Is Congress expanding credit for the indegent or enabling high-interest loan providers?

Ken Rees has made a lot of money loans that are selling triple-digit rates of interest to borrowers with dismal credit history or no credit rating.

Through the years, he’s developed a knack for finding loopholes in usury legislation in states that cracked straight down on alleged pay day loans — a label which includes morphed from describing short-term, small-dollar loans to add longer-term loans that carry sky interest that is-high but nevertheless can trap borrowers in a period of unsustainable financial obligation.

Rees became the CEO of payday lender ThinkCash in 2004.