Advance Financial’s Flex Loan charges 279.5% interest, trapping thousands of borrowers in debts that end up in court, where the company has won over $200 million in judgments since 2015.
By @friedmanadam5.bsky.social, w/ @tennesseelookout.com
By @friedmanadam5.bsky.social, w/ @tennesseelookout.com
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To share your experience, call or text reporter Adam Friedman (@friedmanadam5.bsky.social) at 615-249-8509.
This is a segment he did 10 years prior but there is a newer one I just can’t find.
https://www.tba.org/?pg=Articles&blAction=showEntry&blogEntry=87074
USA ends up being a country of mobsters, run by mobsters...
https://www.bankruptcylawmaryland.com/post/whatever-happened-to-usury-laws
When they were in the minority the Republicans didn't hem and haw and go "aw shucks."
They established a battle plan and went full steam ahead on Day 1.
The Dems and their think tanks need to also.
And I want a 9,000 page battle plan, BEFORE Nov, 2026.
short for vigorish (also called the cut, the house edge, juice, the margin, the take, under-juice, or the vig) is the fee charged by a bookmaker for accepting a gambler's wager. In American English, it can also refer to the interest owed a loanshark in consideration for credit.
I've never understood someone who can sleep at night while doing this to people every day.
https://www.facebook.com/advancefinancial247/posts/be-sure-to-catch-tina-hodges-on-the-balancing-act-as-advance-financials-ceo-tina/9327464497293920/
https://www.ceoconnection.com/tina-hodges/
The loan’s $4,000 cap is nine times higher than the limit for most payday loans, and the company charges the equivalent of a 279.5% annual interest rate.
I'm sure I'll have time to catch up when the unregulated pharmaceutical industry oopses a zombie plague on us.
Is it better that a few oligarchs die rather than thousands of children starve to death?
Is today's "buy your daughters 2 dolls not 20" today's version of "let them eat cake"?
1) The media fawning and people squeeing over "OMG he's SOOO cute!" disgusts me.
1a) so I stopped paying attention.
2) Law enforcement, when shrugging over possible motives, neglected to mention he left a manifesto.
3) Which the media of course got hold of and published.
I read it. It's lucid, it's concise. This was not a murder, it was a targetted assassination.
This complicates my feelings on the situation.
I'm still disgusted that people buy sweaters and shoes to match his, as a symbol not of rebellion, but fetish.
That's as much as I'm prepared to say now.
Steve Mnuchin and his One West Bank’s usury and foreclosures are so 2008.
Donald Trump’s secret sauce for not paying his debts | CNN Politics
https://search.app/KJesvZsXtAgzSftJ6
Great work, ProPublica!
💪💙⚖️
30 dolls for Trump, 2 for you and you pay more because you use a credit card
I would look closely at the politicians who approved the law for it to operate under. Betting their pockets are heavy...
What do you know, they were one of the biggest contributors to his "inaugural" (that is, slush) fund.
What happened to laws against usury?
That sort of lending scheme shouldn’t even exist in the United States.
Where are all those people of Jesus & his usury business? Or am I once again the only person who actually read their fecking book with reading comprehension?? That gets old.
Canada cracked down on these loan sharks
The criminal interest rate is now capped at 35% APR, and payday loan costs are limited to $14 per $100 borrowed in provinces with approved payday loan regimes
For the life of me, I can't understand why poor people vote for a party (Republican) that cuts red tape and paves the way for billion dollar companies to rob people blind.
and should be an illegal business practice.
That's so fucked!
https://www.orientation-philosophy.com/about-us/our-people/tina-and-mike-hodges/
Oh yeah…🤦♂️
Oh wait, it’s happening to them?
MAGA must be so mad…🙄
Why do my fellow Americans tolerate this? No longer!
The Trump administration has eliminated 90% of staff at CFPB so his billionaire friends can continue ripping off consumers with their financial schemes and excessive fees.
Let’s acknowledge that Trump DOES NOT care about us.
That's all he good for
Oh wait, those are all "socialist" inventions..
Ha ha ha!
SUFFER!
Predatory business.
In any decent society it would not be legal.
Yet another sign that American Exceptionalism is dead.
How is this practice not illegal? Advance Financial is basically the mob with legal status. Are there any states who have good protections for the consumers?
..one of the top campaign donors to Tennessee politicians..$2.5 million since 2014..over $3 million lobbying state lawmakers over the..decade.
..$10 million in political donations to federal candidates since 2014, including over $3 million to support President Trump..
living alone with rent to pay. couldn’t just quit without another job. I was way too empathetic for that job.
The next job was helping register deaths & births at the council and the beginning of a career serving community.
I had a similar experience at 18 in a phone center selling “blind-made products” that actually used blind people as slave labor and took advantage of a law that only 10% of the products they sold had to be made by blind people.
Also, 1 month for me.
How can this be legal?
Doesn’t a criminal rate exist there?
Judges are paid from public funds. They shouldn’t be predatory lenders’ tool.
This type of scam should be renamed predator loan.
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