Payday lenders sued 7,927 Utahns last year

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Payday Lenders Trying to Collect
Leah Hogsten | Tribune file photo Legislators have tightened the rules for payday lenders in recent years, but the state still has ties
Al Hartmann | The Salt Lake Tribune Quick Loan, a payday loan provider at 464 S. 600 East in Salt Lake City. The Salt Lake City
Leah Hogsten | Tribune file photo Utah payday loan companies charge an average interest rate of 482 annually. A new state exam
Leah Hogsten | Tribune file photo New state data shows that the average interest rate on a payday loan in Utah was 482 percent. Likewise,


Payday Lenders Trying to Collect
Leah Hogsten | Tribune file photo Legislators have tightened the rules for payday lenders in recent years, but the state still has relatively loose restrictions and state regulators are lax in enforcing the rules outlined in the books.
Al Hartmann | The Salt Lake Tribune Quick Loan, a payday loan provider at 464 S. 600 East in Salt Lake City. Salt Lake City Council is considering reducing payday lender density.
Leah Hogsten | Tribune file photo Utah payday loan companies charge an average interest rate of 482 annually. A new state audit says the few regulations in force are not being enforced by regulators.
Leah Hogsten | Tribune file photo New state data shows that the average interest rate on a payday loan in Utah was 482 percent. In addition, more than 45,000 Utahners hadn’t paid off their loans after 10 weeks.



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