I just fell out of my chair

The Associated Press ran an article titled “Payday Loans: How they rate against alternatives

These figures are provided by the CFSA, but I’m glad that our side is getting some press.

Fee — Loan Type — Annual Percentage Rate

$15 — Payday loan — 391 percent

$29 — Overdraft fee on checking account — 755 percent

$37 — Credit card late fee — 965 percent

$56 — Bounced check fee — 1,449 percent

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