Friday’s American Banker highlights extortionate interest rates charged by 20 non-bank lenders in California.
I wonder who these firms are.
The American Banker says they are non-banks.
Licensed to lend but basically unregulated.
Steering broke citizens toward high interest loans.
The sites that hook the borrowers in are called “Lead Generators”.
Is this happening in the UK? pic.twitter.com/dzICvUibDS
— Ranjan Balakumaran (@financialeyes) September 30, 2018