Pension Advance Transaction Firms Use ‘Questionable’ Practices, GAO Report Says

Pension Advance Transaction Firms Use ‘Questionable’ Practices, GAO Report Says

07/15/14

An undercover Government Accountability Office investigator looking into firms that offer pension advances received offers with effective interest rates that mostly ranged from 27 percent to 46 percent, at times far exceeding the legal limits set by states on the interest rates assessed for various types of personal credit, the GAO said in a new report.

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