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The loophole that is lingering. Do not require is certified because of their state as a payday lender.

The 3 major fast-cash loan providers running in Minnesota — Payday America, Ace money Express and Unloan — have dominated the state’s payday lending marketplace for years. Together they made a lot more than $10 million last year. Payday America — the biggest of most — obtained about $6 million that year.

Do not require is certified because of their state as being a lender that is payday.

Alternatively, all three are certified as Industrial Loan and Thrift operations — a designation produced years ago by the Legislature. Continue reading The loophole that is lingering. Do not require is certified because of their state as a payday lender.