Transportation Alliance Bank (TAB Bank) is helping the predatory lender EasyPay Finance make pet loans at 130% to 188%, rates that are illegal in most states. Since the American Revolution, states have limited interest rates to stop predatory lending. But predatory lenders are evading state laws by laundering their loans through banks, which are exempt from state rate caps.
Only a few rogue banks are willing to front for predatory lenders.
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