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Could loan providers just stop lending to seniors on fixed incomes? That may keep lenders ready to accept complaints of discrimination

Could loan providers just stop lending to seniors on fixed incomes? That may keep lenders ready to accept complaints of discrimination

“What are we expected to do, inform people: ‘We can’t provide you with that loan because you’re too old?’” he asked.

Uhlick’s workplace hasn’t accused the payday lending industry, which it means as “fringe banking,” of breaking what the law states, but she claims it really is focused on being able to utilize “loopholes” that allow it to charge yearly percentage prices 500 % and greater whenever state legislation caps them at 36 %.