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But the industry has fought back. As a new report by ProPublica shows, several states that passed bans on payday loans are now seeing new superhigh-cost loans just different enough to circumvent the prohibitions. One popular loophole involves a “credit repairâ€Â� loan with sky-high fees that technically aren’t interest. And to avoid regulation, some predators are shifting operations to foreign places like Grenada or Isle of Man.
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