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In a Forbes article on 10/20/2014, you learn more about the owner of Quicken, Dan Gilbert. I always picture CEOs of huge companies like they do in the movies…usually the villain right? He has a wife and five children and hes challenged with finding and keeping young tech savvy employees who will live in Detroit instead of California or New York. actual short term loan lenders Money funds do not serve as a good replacement for a checking account at a bank. Withdrawals are limited by regulation and the yields on money funds may not match today's best rates on checking accounts . Here's how the scam allegedly played out: The online payday lenders required borrowers to provide bank account information so they could deposit the borrowed funds electronically and withdraw the repayment amount from the account later. The lenders claimed that the repayment amount would be the amount borrowed plus a one-time finance fee, and that this amount would be withdrawn on a particular date. Instead, the lenders made multiple withdrawals from the borrowers' bank accounts and assessed a new finance fee each time. The result of this scheme? The borrowers paid much more than the stated cost of their loans.
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