A debt collector associated with two big banks is being sued by Minnesota’s attorney general over steep interest rates charged to people with overdrawn checking accounts. Minnesota Attorney General Lori Swanson alleged Wednesday that Minneapolis-based Bradstreet and Associates broke state law by charging up to 21.75 percent in interest on the bank debt.
For struggling families living paycheck to paycheck, internet deals offering a short-term payday loan can appear appealing. But for many customers, what was intended to help them out when they are short of cash, can quickly grow into long-term headaches.
Minnesota Vikings running back coach Eric Bieniemy is an early candidate for the open head coaching job at Colorado, his alma mater.