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May 2, 2019

Customers Sue Lawsuit Lenders Over Alleged Illegal Rates

Two Missouri residents have become the latest lawsuit loan customers to sue their lenders over high interest rates, Legal Newsline reports.

The plaintiffs allege the loans they signed came with annual interest rates greater than 100 percent, though documents associated with that loan did not specify what it actually was. They said a 100 percent interest rate is “unconscionable, unfair and otherwise illegal.” Similar lawsuits have been filed in Georgia and Florida.

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