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Resource ID: #22695
Subject: Loan Scams
Source: Deseret News (Salt Lake City)
Date: 11/13/2005; 11/14/2005; 11/15/2005



In Utah the "payday loan" industry is flourishing. These payday loan stores intentionally trap and drain those people desperate for cash. The industry is growing exponentially in areas that are poor, heavily Hispanic or near military bases. Utah banks and credit unions' campaign donations keep the legislature from puting limits on interest rates.

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