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Let me make it clear about With Mafia-busting legislation, feds indict payday financing pioneer

Let me make it clear about With Mafia-busting legislation, feds indict payday financing pioneer

Federal authorities charged a pioneer when you look at the multibillion-dollar payday-loan industry Thursday into the Justice Department’s latest and largest instance targeted at stifling abusive loan providers who possess evaded state and federal legislation with stunning effectiveness.

Prosecutors allege that Charles M. Hallinan – a 75-year-old previous investment banker, a Wharton class graduate, and a Main Line resident – dodged each new legislation supposed to stifle usurious loans by spending founded banking institutions and indigenous US tribes to act as fronts for their loan providers. (više…)

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