Preying On The Working Poor   2 comments

According to Bankrate.com, “Tax preparers, both independent operations and major chains, charge interest rates that can run on an annualized basis well into triple figures, all for the privilege of getting money a few days earlier.”  How do these companies get around state interest rate caps (called usury rates)?  By partnering with banks in states like Delaware or South Dakota where there are no usury rate caps.

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Posted April 3, 2011 by ~ Bruce in Signs of the Times

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2 responses to “Preying On The Working Poor

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  1. Hi Bruce,

    Great work. I read about this tax business recently. Never occurred to me that this sort of scam would fly, but…well, anything goes I guess.

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