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Installment loans by Payday lenders evade rules and perpetuate predatory assault on customers

Installment loans look like a kinder, gentler form of their “predatory” relative, the pay day loan. However for customers, they might be much more harmful.

Utilization of the installment loan, by which a customer borrows a lump sum payment and will pay right right back the main and desire for a few regular re re re payments, has exploded significantly as regulators started initially to rein in payday financing.