High-interest loan companies are using Utah’s small claims courts to arrest borrowers and take their bail money. Technically, the warrants are issued for missing court hearings. For many, that’s a distinction without a difference.
Bernie Sanders and AOC are pushing for rules that would put payday lenders out of business — and end Wall Street’s business model of exploiting the poor
A deregulatory push led by top-level Republicans could turn back the clock to the heyday of predatory lending.
Last year, activists in Missouri launched a ballot initiative to cap the rate for loans at 36 percent. The story of the ensuing fight illuminates the industry’s tactics, conducting an underhanded campaign to derail the ballot initiative; and a sophisticated and well-funded outreach effort designed to convince African-Americans to support high-cost lending.
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