Number	22010
Subject	Loan Scams
Source	None
State	MN
Year	2004
Publication Date	August 15, 16
Summary	This series looks at how corporations like Payday America use payday loans to target the poor and charge phenomenal interest fees. These stories also look at how traditional banks have helped to keep these businesses going, acting as the main source for business loans for payday lenders. At the same time, these banks are pulling their own branches out of lower income areas and violating the Community Reinvestment Act of 1977 by not "serving the credit needs of all communities where they operate, including low- and moderate-income communities." Another story looks at RALs, or Refund Anticipation Loans from places like H&R Block, which also rack up interest rates and fees of 70-700 percent.
Category	General
Pages	18
Keywords	refund anticipation loans;loans;payday loans;Payday America;check-cashing businesses;Community Reinvestment Act;H&R Block
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