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DEBT DANGER: Alan Krinsky, director of research and fiscal policy at the Economic Progress Institute in Providence, says high interest rates offered by payday lenders, such as Advance America in Pawtucket, pictured, can leave struggling borrowers in a cycle of debt.
PBN PHOTO/­MICHAEL SALERNO

Payday lending ending in R.I., but a gap will remain

Rhode Island is preparing to shut down traditional payday lending next year. Beginning in 2027, payday lenders will no longer be exempt from the state’s...
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