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Legislative Black Caucus assails payday lending bank

In case you missed it, the North Carolina Legislative Black Caucus sent a powerful letter to Regions Bank this week. Regions is the Alabama bank that’s trying to reintroduce the banned practice of high-cost, predatory payday lending in the state. The group joins Attorney General Roy Cooper and a large group of consumer protection groups calling on Regions to halt making the loans — which can have interest rates as high as 365% APR.

 

 

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  1. [...] Carolina’s Legislative Black Caucus has also taken a stand against this type of financial [...]