Rhode Islanders are taking out risky loans from online 'rent-a-banks.' How it works.

Curtailing the triple-digit interest rates charged by storefront lenders is still the priority, but lawmakers see new high-tech threats emerging.

By: The Providence Journal

Apr 27 2024
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Rhode Islanders are taking out risky loans from online 'rent-a-banks.' How it works. — Rhode Islanders are taking out

The phrase "predatory lending" conjures up images of check-cashing joints in run-down neighborhoods. But those old-fashioned storefronts are no longer the only place where Rhode Islanders who are st… [+8188 chars]

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Rhode Islanders are taking out risky loans from online 'rent-a-banks.' How it works.

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