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The Debt Trap: Small-Dollar Debt Shouldn’t Mean Big Profits for Predatory Lenders

By LeeAnn Hall and Glenn Harris

 

predatory lenders(TriceEdneyWire.com) – How can a corporation get rich off people who have almost nothing? That’s the business model for a predatory debt industry targeting African Americans, raking in billions by exploiting economic vulnerability.

It’s time we stop this parasitic industry and demand the Consumer Financial Protection Bureau (CFPB) institute tough rules to end the small-dollar debt trap.

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