Payday Lenders: It’s Time to Rein In Hawaii’s Loan Sharks

Payday Lenders: It’s Time to Rein In Hawaii’s Loan Sharks

That it wouldn’t help to make your situation worse if you were broke and desperate, perhaps the least you might expect of the government is. Yet this is certainly precisely what hawaii has done for pretty much 16 years now through its laissez faire treatment of Hawaii’s burgeoning cash advance industry.

As Civil Beat’s Anita Hofschneider reported earlier in the day this week, Hawaii has one of many nation’s most permissive lending that is payday, enabling organizations to charge an annual portion price as high as 459 percent, in accordance with an analysis done about ten years ago by their state Auditor. […]