Interest on a typical utah cash advance rises to 554% APR
A year ago to 554%, according to a new state report as surviving loan stores try to endure, they raised their already astronomic rates — from an average 523% annual percent rate. (That is additionally 20% greater than the common 459% they charged four years back whenever their slump started).
At that brand new rate that is average borrowing $100 just for a week costs $10.63.
In cases where a debtor repays that in 10 months — the restricted term that Utah law enables loan providers to charge such high […]