Redefining interest hasn’t always worked. The lawyers basic of several of the 18 states with usury laws–including Alabama, Georgia, Michigan, Pennsylvania and Virginia–have declared pay day loans unlawful.

Redefining interest hasn’t always worked. The lawyers basic of several of the 18 states with usury laws–including Alabama, Georgia, Michigan, Pennsylvania and Virginia–have declared pay day loans unlawful. The spate …

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