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eliminate payday loans

How "payday" loan providers pull off rates that are crippling

OVERLAND PARK, Kan. - For Americans struggling in this economy, an advance on a paycheck may be a lifeline. These improvements - also called payday advances - have grown to be a fast-growing online business, with almost $11 billion lent away year that is last.

The funds frequently is sold with crippling rates of interest, as CBS Information chief investigative correspondent Armen Keteyian discovered because of this report together with the middle for Public Integrity.