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  • BankThink High-cost loans a step into the incorrect way

    U.S. Bank recently introduced an innovative new small-dollar loan item. Because of the bank’s own description, it is a high-cost product, at 70-88% APR. High-cost loans by banking institutions provide a mirage of respectability. An element with this impression could be the misguided indisputable fact that restricting payment size to 5% of revenues means the…