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Payday lenders in Maine must be exempted from the state’s existing consumer credit code. They will be permited to use advertising methods that are currently prohibited and to have greater leeway in collection methods in default event. Latest study lends some validity to that position. I am sure that the GI contends that GI personnel are disproportionately targeted by payday loan entrepreneurs and that lenders adjacent to army bases charge higher rates of interest. Seriously. While offering lower interest rates and lengthier repayment terms, it can be that Internet payday lenders have not been targeted… Read Article →

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