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A middle-class carry on to pay day loan providers

A middle-class carry on to pay day loan providers

Featuring its quaint downtown and tree-lined roads, the unpretentious city of Cleveland, Tenn., in the foothills for the truly amazing Smoky Mountains seems a improbable epicenter for the $50-billion-a-year industry that is monetary.

But that is where W. Allan Jones founded consider money, the granddaddy of modern payday lenders, which concentrate on a number that is incredible of strapped working those who have short-term loans — at annualized interest rates of 459%. Continue reading A middle-class carry on to pay day loan providers