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Payday loan providers are targeting less suburbs that are affluent well as inner metropolitan areas.

Payday loan providers are targeting less suburbs that are affluent well as inner metropolitan areas. Driving along Denton Highway, the primary thoroughfare of Haltom City, you pass churches, fast-food restaurants, and automotive fix stores. Occasionally amid the other storefronts, vibrant colored indications beckon with promises of “100 % approval” and “Everyday is payday” — tempting invitations from 1 of the very most pervasive brand new companies in this blue-collar suburb: payday lenders. The town simply east of Fort Worth houses 16 “credit access companies,” the industry that is new for payday and automobile name lenders. These businesses aren’t regulated by Texas usury laws, which limit fees and interest rates unlike banks and savings and loans. So payday loan providers can charge percentage that is annual…