Unified Republican opposition doesn’t help, but the majority Democrats have found it hard to crack down on an industry that charges borrowers 237 percent interest per annum.
Lawmakers push payday-lending bills in Legislature to help people like Renee Bergeron of Duluth.
Bukola Oriola joins other Minnesotans taking advantage of a program that helps them slowly build assets to achieve goals for a better life.
Minnesotans struggling to make mortgage payments will get new leverage for saving their homes beginning Aug. 1.
More than 360,000 Minnesota households lack basic financial access because they are “unbanked” or “underbanked,” and those numbers are rising.
CashCall, Inc. claims to operate under tribal law, thereby circumventing state limits on lenders.
A coordinated effort seeks to lay the groundwork for sound financial decisions. But is it working?
The Minnesota attorney general’s office says consumers can find themselves in murky legal waters.
The Minnesota attorney general recently offered this advice.
Regulators are focusing on big banks, including U.S. Bank and Wells Fargo, offering loans tied to checking accounts.
Sheronda Orridge is one of many Minnesotans of color who were dealt higher rates than most white Minnesotans.
George Vognar and others have complained to the state attorney general about misrepresentations, aggressive marketing and excessive fees.
Bills before the Minnesota Legislature would outlaw the practice in the state.
Minnesota sits in the middle of range of state payday lending regulations, not the strictest state by any means.
Predatory lenders from Malta, the West Indies and distant places lure borrowers into loans with annualized interest rates topping 1,500 percent.
The banks don’t call them payday loans, but consumer advocates say the loans have the same dangers.
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.
See where Minnesota’s payday lenders are located, and how their locations correlate to poverty rates.