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Customer loans Payday lending is decreasing

Regulators squeeze the industry

IN-MAY 2013 Gloria James borrowed $200 from Loan Till Payday, a loan provider near her home in Wilmington, Delaware. As opposed to remove a single- or two-month loan for the $100 cost, as she had done many times before, she was provided a one-year loan that will set her back $1,620 in interest, comparable to a yearly rate of 838%. More…