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Predatory Lenders Seek Bank Charters to Evade State Rate Caps

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Predatory lenders Enova and Opportunity Financial (OppFi) are seeking to become national banks, which would allow them to impose triple-digit interest rates on borrowers and increase financial instability, despite 21 states and the District of Columbia having outlawed such rates.

The postPredatory Lenders Seek Bank Charters to Evade State Rate Capsappeared first onThe Washington Informer.

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