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Payday loan providers Mississippi that is populate lawmakers do small to guard customers

A female gets in an all check that is american location in Brandon, Miss., Friday, May 12, 2017. (Picture: Rogelio V. Solis/AP)

Significantly more than a ten years ago, I penned an account noting that approximately 1,200 lenders that are payday running in Mississippi, with just New Mexico and Southern Dakota having more payday loan providers per 100,000 populace than Mississippi, in accordance with a written report.

Within the years, it seems absolutely nothing changed. I believe the final we heard Mississippi now leads the world per capita within the true amount of such companies.

Mississippi banking and finance regulators together with government recently took action against a check cashing/payday financing company.

The federal customer Financial Protection Bureau has expected a judge that is federal order All American Check Cashing Inc. as well as its owner to cover straight right right back $8.3 million in profits and income for presumably hiding check-cashing costs, misleading individuals into taking right out costlier loans, and wrongly kept customer overpayments, reported the Associated Press.


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