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Fast growth of payday shops in Utah cools

As more Utah towns limit the amounts of „payday loan” shops — which provide two-week loans, or before the next payday, for around 500 % yearly interest — the once-explosive development in that industry has cooled right right here.

The amount of such brick-and-mortar stores expanded by 5 percent in Utah this from 380 to 399, according to Deseret News analysis of registration data provided by the Utah Department of Financial Institutions year. Continue reading