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APR 24, 2013 - Washington Business Journal

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324% interest rates get Western Sky in trouble

Despite efforts to curb so-called predatory lending, the practice appears to be alive and well. The Oregon Department of Consumer and Business Services on Wednesday announced that it has fined Western Sky Financial $17,500 for making loans in Oregon without a proper license and charging rates that violate state law. According to the department, Western Sky made loans to at least seven Oregon residents with annual interest rates ranging between 89 percent and 342 percent. State law prohibits consumer…

Tags: 324% interest rates get Western Sky in trouble,  Interest Rates Latest News