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Interest in high interest pay day loans soars in Minnesota

Interest in high interest pay day loans soars in Minnesota

Minnesotans are looking at loans that are high-interest other solutions away from conventional bank operating system, controversial enterprises that run through a loophole to dodge state limitations.

This short article ended up being written and reported by Jeff Hargarten, Kevin Burbach, Calvin Swanson, Cali Owings and Shayna Chapel. The content had been monitored by MinnPost journalist Sharon Schmickle, stated in partnership with pupils in the University of Minnesota class of Journalism and Mass munication, and it is the first in a number of periodic articles funded with a grant through the Northwest region Foundation.