Bill Taylor
“When a bank charges $38 for a bounced $10 check, what is the ‘interest rate’ on that?”
Payday lender Bill Taylor attacks bounced check protection…
He also argues that his payday loan charge is a ‘fee’ and not interest:
“We are required to post a conspicuous sign stating the ‘interest’ rate that we charge. However, the contract that each customer signs clearly states that the charge is a fee, and not interest.”
Bill Taylor owns two payday loan businesses in Jackson.
Source: Proposed Loan Rules ‘Ridiculous’ (The Clarion-Ledger)
Recent Posts:
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