Jump to content

Payday lender charged 700 percent


The last post in this topic was posted 1830 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

PHILADELPHIA (AP) - The head of a payday lending enterprise accused of charging more than 700 percent interest on short-term loans was indicted Thursday on federal racketeering charges.Charles M. Hallinan, 75, led a group that preyed on customers while taking in nearly $700 million from 2008 to 2013, according to the indictment. According to prosecutors, he tried to evade state consumer protection laws by looping in Native American tribes as the supposed lenders so they could claim tribal immunity from state regulations and deflect class-action lawsuits...... http://www.washingtontimes.com/news/2016/apr/7/feds-payday-lender-charged-700-percent-interest-on/


Link to post
Share on other sites

The last post in this topic was posted 1830 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.




  • Member Statistics

    • Total Members
      180,559
    • Most Online
      2,046

    Newest Member
    tradebuiltupletters
    Joined
×
×
  • Create New...

Important Information

Guidelines