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Archive Home > 2010 > August > 05 > Payday lending: Helpful service or pitfall of debt?

Payday lending: Helpful service or pitfall of debt?

Influx of lending outlets brings eye to what critics say are lax regulations

By Brendan Case / The Bulletin
August 5, 2010

DALLAS — On July 2, a 74-year-old Dallas widow named Yvonne Sands received her monthly Social Security check of $1,360. Soon after 7:30 a.m., she withdrew money from the bank and drove off to renew four payday loans with annual percentage rates of about 250 percent to more than 300....

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