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Let me make it clear about problem Brief when it comes to RAISE Flor

Let me make it clear about problem Brief when it comes to RAISE Flor

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Issue Brief for the RAISE Florida system: The Payday Lending business in Florida published by: analysis Institute on Social and Economic Policy (RISEP), Center for Labor Research and Studies (CLRS), Florida Overseas University,

Overview Florida’s payday financing industry is a $2.85 billion company that traps borrowers in a period of financial obligation while additionally stripping a lot more than $244 million of Florida’s wide range (Veritec possibilities 2012). This report analyzes the economic aftereffects of Florida’s lending that is payday on its clients, our communities, and our state. Payday financing industry and its particular effects on Florida: with over 1,600 shops, the payday financing industry has exploded into $2.85 billion industry since the most of Florida. In reality, across Florida there have been 7.2 million loans given in 2012 by payday lending organizations distributed throughout North, Central, and South Florida (see dining table 1). The majority of loans that are payday in Florida were held in eight of this biggest areas when you look at the state. (more…)

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