The Neon Wilderness

Sunday, November 12, 2006

The Octopus
Burn baby, burn! article in Kansas City Star about a class action lawsuit filed against QC Financial Services Inc. aka QC holdings aka Quik Cash, they run 564 pay day loan stores across the country, and have been exploiting the poor and desperate since 1992. The lawsuit brought by a single mother of two, who earns $844 every two weeks, "In her lawsuit, Woods alleges that she took out three loans — one for $450, one for $300 and one for $250 — and ended up paying nearly $1,800 in interest and fees". The Center for Responsible Lending estimates that predatory payday lending practices cost American families $3.4 billion annually[1]. Payday loan stores litter the landscape of lower income neighborhoods, they bilk, gouge, and exploit the poor and working class, and make billions doing it.

KC Star "
Payday lender QC Financial Services faces class-action lawsuit"
Shortchanged: Life and Debt in the Fringe Economy
By: Howard Karger
Really awesome book, I came across it by accident, bought it and loved it. Its only available in hardcover, kinda expensive but I thought it was definitely worth it, lots of facts and stats about an area that doesn't get much attention.

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