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This Lender Said Its Loans Would Help Tennesseans. It Has Sued More Than 110,000 of Them. (www.propublica.org)

submitted 16 hours ago by [email protected] to c/[email protected]

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Wave of Lawsuits: Since introducing the Flex Loan in 2015, Tennessee-based lender Advance Financial has filed over 110,000 lawsuits against its borrowers.

High Interest and Fees: Flex Loans offer borrowers up to $4,000 at 279.5% interest, trapping thousands of people in debt that can land them in court.

Sidestepped Federal Regulators: Advance Financial lobbied lawmakers to create the new Flex Loan to avoid federal consumer protection regulations.

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[–] [email protected] 10 points 14 hours ago* (last edited 14 hours ago)

Good thing we're focusing getting rid of 'illegal' immigrants and not loan sharks threatening and stealing from citizens.