Michigan fails to adequately protect consumers against two types of small-dollar, high-interest rate loans, according to a survey by a coalition of consumer groups.
One type is a short-term payday loan that carries a 375 percent interest rate. The results of the national survey and a state-by-state scorecard can be found here.
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[...] Alert!, one of my Internet neighbors at BlogsMonroe, has linked to reports by a coalition of consumers groups that say Michigan falls short on certain small-loan protections [...]