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Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.
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4. Post titles should be the same as the article used as source. Clickbait titles may be removed.
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Posts must be news from the most recent 30 days.
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All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
That sounds absolutely wild. I read "up to" 400% Was that a worst case scenario or was it wide spread? It would be helpful to see more data. Like, if they were charging 18-20% regularly or something.
And Ftr, fuck lending institutions and the conditions that have created them.
It was probably common but these are typically short-term "payday loan" type deals that you're expected to pay back in a week or two. 400% APR comes out to 7.69% per week.
These things are an absolute trap because if you don't have $300 or whatever to cover your bills this paycheck, you definitely aren't going to have $380 two weeks from now to pay it back and that's precisely where you get steamrolled.
How about saying which states, rather than posting a clickbait headline?
Connecticut, Arkansas, New York, Pennsylvania, Virginia, and West Virginia
Thank you, Slatlun. It's a pet peeve of mine. I read somewhere that not rewriting article headlines is a holdover from some subreddits who prohibited the practice.