Date on which North Carolina Sen. Jerry Tillman (R) introduced a bill to re-open the state to “payday” loan providers, organizations offering unsecured money improvements with effective interest levels that critics call “predatory”: 2/13/2013
Interest that some consumers will pay on such loans if it is computed being a yearly portion rate (APR): 400
Optimum APR new york legislation permits customer finance loan providers to charge: 36
12 months where the new york legislature allow lending that is payday following a four-year test enabling it: 2001
Quantity of businesses that then ignored or tried to skirt the ban, continuing to help make loans that are illegal 10
12 months when the new york Justice Department negotiated funds because of the state’s staying lenders that are payday which they consented to stop making loans: 2006
Within the contract, amount the 3 organizations then nevertheless running — look at money, Check ‘n’ Go, and First American money Advance — paid to nonprofits to aid customers relying on their loans: $700,000