Oceanside can help defend Marines - North County Times($300 Payday Advance)
Among them are the payday loan centers that advance customers small amounts of money at exorbitant fees and rapidly escalating interest rates. And while representatives of the payday loan industry say that only a small percentage — 4 percent or less — of their customers are active-duty military, that figure doesn’t account for their concentration outside the base gates nor accurately reflect the extent to which military families rely upon their services. California limits cash advance loans to $300 and fees to a maximum of 15 percent, but the annualized interest rate on two-week loans can and often does reach upward of 400 percent. That will almost certainly do more to halt the growth of payday loan centers in military towns like Oceanside than anything attempted by the City Council. Why are the banks with their outrageous banking fees and their credit card interest rates with super high fees for late payments or going over your limit held to the same scrutiny as the Payday Loan industry? Find Out More
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