New pay day loan bill could save yourself the industry. Or allow it to be more lucrative.

New pay day loan bill could save yourself the industry. Or allow it to be more lucrative.

A bill in the Legislature that would result in bigger loans and higher fees is a gift to a predatory industry for critics of payday lenders.

At a look, they might be appropriate. Floridians, mostly in bad areas, took away a staggering 7.7 million payday advances over one year in 2016 and 2017. And almost a 3rd of most clients took down at the least 12 loans that 12 months, an obvious indication of the "debt trap" that lenders make money from, experts state.

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