Predatory lending prevalent in The Bahamas

 


Described as modern day economic slavery, lending institutions with high-interest rates prey on the working class – many of whom are government employees with the ability to get salary deductions.

Eyewitness News explores the issue as more and more Bahamians find themselves sinking into consumer debt.

1 comments

Ate us up here in the States. It hit the African American community exceptionally hard. Many are still suffering from the market crash in 2008. I hope The Bahamas fares well and protects their people from predatory lenders. Yes we all know that consumer spending drives the economy but if the people are too laden with debt, spending slows and the economy grinds to a halt. This alone is a national security threat.

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