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Interest in high-interest pay day loans soars in Minnesota

Interest in high-interest pay day loans soars in Minnesota

Minnesotans are looking at loans that are high-interest other solutions away from conventional bank system, controversial enterprises that run through a loophole to dodge state limitations.

This informative article had been written and reported by Jeff Hargarten, Kevin Burbach, Calvin Swanson, Cali Owings and Shayna Chapel. This article had been monitored by MinnPost journalist Sharon Schmickle, stated in partnership with pupils during the University of Minnesota class of Journalism and Mass correspondence, and it is the very first in a variety of periodic articles funded by a grant through the Northwest Area Foundation.

Call it lending that is predatory.