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> I’ve just looked at the internet archive and it shows rates of up to 1825% APR. These loans are definitely predatory and so could have been done directly from
by garmaine 5y ago
> I’ve just looked at the internet archive and it shows rates of up to 1825% APR. These loans are definitely predatory and so could have been done directly from the capital. Not surprised they got shut down, similar companies operating in the UK got shut down years ago and pretty much everyone is better off for it. It’s a hugely predatory industry.
It is a hugely predatory industry that ought to be shut down. Unfortunately the "payday loan" industry is still 100% legal here in the USA :( It looks like LendUp got shut down for the misleading marketing about their evil lending practices, and not the fact that it was evil in the first place.