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Nothing like a story on scheming financial outfits charging hundreds of percent annualized interest on loans to strapped military personnel and their families tha makes you think....some country, huh:<br><br>
"Typically young, financially naïve and often short of cash, military people present a lucrative customer base for high-cost instant lenders, known as payday lenders, as well as more traditional consumer finance outlets, whose rates can exceed 30 percent.<br><br>
"In the 37 states that allow them - up from 28 five years ago - payday lenders have opened a disproportionate number of outlets on the edges of military bases, a new study has found. And in the 13 states that bar them, payday lenders have nevertheless cropped up around bases in disguise, posing as catalog retailers or Internet cafes, regulators say. Besides sometimes adopting military names, they frequently advertise in base newspapers or operate online with special links to attract military customers."<br><br>
More here:<br><a href="http://www.nytimes.com/2004/12/07/business/07military.html?th=&pagewanted=print&position=" target="_blank">http://www.nytimes.com/2004/12/07/bu...rint&position=</a>
 
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