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Information Bureau, University of Missouri

University of Missouri

State Report Shows problems that are persisting Predatory Lending, MU Professional Says

The views and opinions expressed in this ???for specialist comment??? launch are derived from research and/or viewpoints regarding the researcher(s) and/or faculty member(s) plus don’t mirror the University??™s formal stance.

COLUMBIA, Mo. ???‚??? The Missouri Division of Finance???‚?„?s 2011 Payday Lender General Assembly Report suggests that as the final number of payday loan providers in Missouri has fallen almost 20 % since 2009 and much more than 30 % since 2007, the common rate of interest of each and every loan has increased to 445 apr (APR).?’ Brenda Procter, a University of Missouri Extension professional when you look at the university of Human Environmental Sciences and a predatory financing specialist, states why these pay day loans can be extremely harmful to a persons???‚?„? situation that is financial. More…