Delegate aims to rein in ‘predatory loans,’ to no avail
RICHMOND, Va. (AP) — You’re pre-approved!” CashNetUSA, a Chicago-based company, exclaimed in a letter to Alexandria resident Mark Levine. “$1,000 is waiting!” However, in tiny print was a catch: The loan would have to be repaid at 299 percent annual interest. That meant interest would reach $15,000 after one year […]