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Need for high-interest pay day loans soars in Minnesota

Need for high-interest pay day loans soars in Minnesota

Minnesotans are looking at loans that are high-interest other solutions away from conventional bank system, controversial enterprises that run via a loophole to dodge state limitations.

This informative article ended up being written and reported by Jeff Hargarten, Kevin Burbach, Calvin Swanson, Cali Owings and Shayna Chapel. This article ended up being supervised by MinnPost journalist Sharon Schmickle, manufactured in partnership with pupils during the University of Minnesota class of Journalism and Mass correspondence, and it is the initial in a variety of periodic articles funded by way of a grant through the Northwest region Foundation.