Exact(59)
So what does the government spend on the loans?
Mr. Weiller declined to elaborate on the loans.
Such low interest rates would cause the government to lose money on the loans.
In many cases, the agencies had not collected on the loans at all.
But because interest rates on the loans track inflation, they are not, currently, an exciting investment.
Across the nation, 15 states impose strict interest caps on the loans, effectively banishing payday lenders.
"Customers who have big deposits, we give them a break on the interest on the loans.
Also, if you're in default on the loans, you won't be eligible.
All in all, the securitization lost $126 million on the loans.
The indictment charges that Mr. Mitchell made few, if any, payments on the loans.
He said that he's already paid back the principal on the loans.
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