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Government regulation out-of payday loans is actually a victory to own claims’ liberties

Government regulation out-of payday loans is actually a victory to own claims’ liberties

As to the reasons the federal government need intervene so you're able to restrict predatory credit

Back into 2014, into the basic 12 months from their hit HBO reveal “Last week Tonight,” John Oliver took on brand new payday loan industry. Boggled by the financing one carried doing a-1,900 apr (APR), Oliver considering up a modified brand of the latest “Lion Queen” motif tune. “It will be the community out-of debt!” the guy sang. “Plus it screws us all.” Oliver told me the outrages of your own cash advance industry would not be prevented due to the fact “he is very proficient at to prevent controls.”

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