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In Baltimore, a Test for an alternate to pay day loans

Small-dollar loan programs are supplying a pillow for the bad in Maryland—and distributing across the nation.

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See additionally Kai Wright’s feature tale in this problem, “How Payday Lenders Evade Regulation.”

Payday lenders aren’t wele in Maryland. A lot more than three years ago, the state’s legislature put a tough 33 % interest limit on loans smaller compared to $6,000, in place banning the predatory training who has bilked billions from low-ine borrowers throughout the country.

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