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US set to adopt rules to curtail payday lending

Advance America operates under a credit services licence, complying with Ohio's rules by charging just US$5.43 in interest but it adds to that US$67.50 in fees, most of which it keeps.

Canton, Ohio

THIS city of 73,000 is known for a few things - the Pro Football Hall of Fame, the presidential library of William McKinley and a lively downtown arts scene.

But in banking circles, it has gained a more distinct reputation: Canton is a nexus of the payday lending...

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