Skip to Content

Lending Trap

Subscribe with RSS
Federal regulators poised to crackdown on payday loans
Business

Federal regulators poised to crackdown on payday loans

By Sharon Schmickle | 04/24/13

Regulators are focusing on big banks, including U.S. Bank and Wells Fargo, offering loans tied to checking accounts.

Sheronda Orridge
Politics & Policy

Minorities in Twin Cities more likely to pay more for mortgages

By Sarah Rose Miller and Samantha Labrasca | 04/24/13

Sheronda Orridge is one of many Minnesotans of color who were dealt higher rates than most white Minnesotans.

Minnesota braces for problems with risky reverse-mortgages
Business

As state ages, Minnesota braces for problems with risky reverse-mortgages

By Kevin Burbach and Sharon Schmickle | 04/05/13

George Vognar and others have complained to the state attorney general about misrepresentations, aggressive marketing and excessive fees.

‘Dual tracking’ trap: Owners lose homes while trying to modify mortgages
Politics & Policy

‘Dual tracking’ trap: Owners lose homes while trying to modify mortgages

By Sharon Schmickle and Sarah Rose Miller | 03/21/13

Bills before the Minnesota Legislature would outlaw the practice in the state.

Some states — not Minnesota — strictly regulate or ban payday lending
Politics & Policy

Some states — not Minnesota — strictly regulate or ban payday lending

By Kevin Burbach | 03/06/13

Minnesota sits in the middle of range of state payday lending regulations, not the strictest state by any means.

Minnesotans burned by far-away online lenders
Politics & Policy

Minnesotans burned by far-away online lenders

By Jeff Hargarten | 02/11/13

Predatory lenders from Malta, the West Indies and distant places lure borrowers into loans with annualized interest rates topping 1,500 percent.

Big banks’ quick-cash deals: Another form of predatory lending?
Politics & Policy

Big banks’ quick-cash deals: Another form of predatory lending?

A MinnPost special project | 02/04/13

The banks don’t call them payday loans, but consumer advocates say the loans have the same dangers.

Demand for high-interest payday loans soars in Minnesota
Politics & Policy

Demand for high-interest payday loans soars in Minnesota

A MinnPost special project | 01/28/13

Minnesotans are turning to high-interest loans and other services outside the mainstream banking system, controversial enterprises that operate through a loophole to dodge state restrictions.

Minnesota payday lending map
Data & Maps

Poverty level and payday lending locations mapped

By Jeff Hargarten and Alan Palazzolo | 01/28/13

See where Minnesota's payday lenders are located, and how their locations correlate to poverty rates.