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Payday lenders obviously do serve a need to the community. What could replace them? Banks and credit unions do not typically offer loans to those in need with damaged credit. Payday lenders do, and their high risk practices cause them to charge higher interest rates. But, could they still manage to do business with less interest?
Arizona is the only other state with no interest rate caps.
Click on the related link for a title loan commercial featuring Utah's own Super Dell.
