The ease of obtaining credit online has encouraged non-finance companies to take a stab at providing products and services that are subject to minimal scrutiny as they typically do not have to comply with the same rules and regulations that banks and credit unions must abide by. In this video, we discuss what characteristics make a loan qualify as a "payday" loan and some of the deceptive tactics that these companies use to charge interest rates that can sometimes be in excess of 750%.
Video Length: 00:48:00
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