Payday lending goes online

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Payday lenders, in an effort to avoid tighter state regulation, are going online to provide high-interest lending. 

The move to online lending is described in a front-page Kansas City Star article. 

The article refers a 2012 Pew study,  which identified Missouri and Kansas as “permissive” states in terms of payday lending. Both states allow single-repayment loans with annual percentage rates of 391 percent or higher.

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