A small part of the franchise industry is mad at me.
I wrote a short article about an upcoming Ohio vote in November that would keep the interest rate cap for payday loans at a really fair 28%. Our Governor stepped in a few months back, and stopped the crazy practice of these nice franchise companies charging 391% APR on payday loans.
I am no mathematician, but I think 391% IS higher than 28%. Every day.
Here is the article, and some rather colorful comments for your reading pleasure. Please feel free to add some more color.
Anyone need a loan???
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