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ECO372 Week 3 DQ#5
Question Description
Week 3, DQ5: The "Fringe Economy"
Sociologist
Howard Karger identifies the emergence of title loan businesses, payday
lenders, tote-the-note car dealers, rent-to-own stores, mortgage
lenders with dubious repayment terms, and similar financial operations
as the "fringe economy". In his book Shortchanged: Life and Debt in the Fringe Economy (2006),
he notes how excessively high interest rates and fees amount to
predatory behavior toward middle class and poor families.
Do
you have experience with a predatory lender or know someone who does?
Have the number of such operations been increasing or decreasing in your
state?
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