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Overdrawn

(credit: Swanson for Attorney General)

AG Swanson Sues Debt Collector Over Bank-Fee Pursuit

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.

01/08/2014