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Archive Home > 2006 > January > 12 > Payday loan lenders cash in on interest rates

Payday loan lenders cash in on interest rates

Lawmakers now questioning ethics in loaning

By James Sinks / The Bulletin
January 12, 2006

SALEM - When extrapolated over a year's time, the loan rates charged by payday lenders in Oregon average more than 500 percent.

And the niche industry is growing rapidly - a reflection of rising demand for short-term loans and an overextended public.

But saying those rates are the equivalent of....

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Published daily in Bend, Oregon, by Western Communications, Inc. Copyright 2007.