New CRL Video Explains Why Predatory Payday Lenders Downplay Loans’ True Interest Rates
400% Interest Payday Loans Lead Borrowers into Long-Term Debt Trap DURHAM, NC – The Center for Responsible Lending (CRL) today released the first episode of its “In Focus” video series, designed to break down complex financial issues and make them easier to understand. In the series, CRL financial experts will help people recognize and prevent financial exploitation, to promote financial fairness for all Americans. In the APR Matters video , CRL senior policy counsel Yasmin Farahi explains why predatory payday lenders downplay the APR (annual percentage rate of interest) for high-cost loans