Some lenders that are payday flouting Florida’s reform legislation

Some lenders that are payday flouting Florida’s reform legislation

The 2001 state legislation that reformed the business that is payday-lending Florida will be ignored by a few of the businesses it absolutely was built to manage.

Those companies still make paycheck-advance loans with annual percentage rates that exceed 400 percent to 700 percent in skirting the reforms. And customers that are financially strapped can not spend on time are over repeatedly permitted to refinance their financial obligation, in obvious breach regarding the legislation. (more…)