As new federal regulations have curtailed payday lending, private equity firms — including one headed by former U.S. treasury secretary Timothy Geithner, who in his role in the Obama administration condemned predatory lending — have stepped into the growing field of “consumer installment loans” to offer enticing, but exploitative, alternatives. One firm, Mariner Finance, stands out among its peers for its use of mass-mailed checks, a tactic which preys upon low- to middle-income individuals anxious about financial challenges such as vehicle repairs and hospital bills. Victims face exorbitant interest rates and fees as well as lawsuits when they can’t keep up their payments. You can read more here.

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