The line of credit Gov. Tim Pawlenty’s administration set up to keep Minnesota from running short of cash will cost the state nearly $1.6 million even if it’s never used, documents obtained by The Associated Press show. State leaders signed off last week on the $600 million line from four lenders led by Minneapolis-based U.S. [...]
Minn.’s credit line
Minn.'s credit line
The line of credit Gov. Tim Pawlenty’s administration set up to keep Minnesota from running short of cash will cost the state nearly $1.6 million even if it’s never used, documents obtained by The Associated Press show. State leaders signed off last week on the $600 million line from four lenders led by Minneapolis-based U.S. [...]
Credit Union Loans Are Not A Good Deal
Short-term loans offered by some credit unions as alternatives to high-cost payday loans are as risky and deceptive as those they’re supposed to replace, some consumer groups say. Payday loans allow cash-strapped consumers to take out small loans against their next paycheck. The loans often carry annual interest rates of 400% or more. Because they [...]