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Resource ID: #18375
Subject: Poverty
Source: Multinational Monitor
Date: October


A Multinational Monitor investigation exposes the practices of the so-called "predatory lending," targeted to low-income workers. Some major findings are that payday loans' interest can reach up to 2000 percent per year, and that they can be rolled over more than 13 times for a 6-month period. The article examines different anti-usury state laws that ban or restrict predatory lending. The investigative package includes also stories on high-interest mortgages, car title loans and costly rent-to-own scams.

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