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Indian tribes gambling on high-interest loans to improve income

Indian tribes gambling on high-interest loans to improve income

In the middle of the Ottawa National Forest, there clearly was a indigenous us booking where snowdrifts mark the key road into city. At the conclusion of the city, there is certainly a casino with cent slots and a three-story resort. In the rear of that resort, there is certainly a locked, unmarked home having a punch rule. And beyond that home is a repurposed ballroom, when useful for wedding receptions, where 11 workers — backed with a Wall Street hedge investment, sustained with a call center within the Philippines — now sell loans online to credit-constrained Americans at annualized interest rates of 780 per cent.

For the reason that old ballroom, sitting in a grey cubicle, looking at her Dell: A 25-year-old whom just got down meals stamps whenever she took this $11-per-hour work. Continue reading Indian tribes gambling on high-interest loans to improve income