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post #4 of (permalink) Old 03-11-2012, 08:18 AM
Join Date: Oct 2011
Location: Toledo, OH
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The reason they can charge 116% interest is because the "loaning institution" is on native american land within the U.S. and gets to act as it's own country because of the treaties our government signed with them. So your state's maximum interest rate protections and the FTC can't be enforced and basically they get to rape your bank account if you are desperate enough or dumb enough to take their money.
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