Payday Lenders: It’s Time to Rein In Hawaii’s Loan Sharks

Payday Lenders: It’s Time to Rein In Hawaii’s Loan Sharks

That it wouldn’t help to make your situation worse if you were broke and desperate, perhaps the least you might expect of the government is. Yet this is certainly just what their state did for almost 16 years now through its laissez faire treatment of Hawaii’s burgeoning loan industry that is payday.

As Civil Beat’s Anita Hofschneider reported earlier in the day this week, Hawaii has one of several nation’s most permissive lending that is payday, enabling organizations to charge a yearly portion price as much as 459 per cent, in accordance with an analysis done about ten years ago by their state Auditor. Read more