Rise In Loans Linked To Cars Is Hurting Poor

Subprime Auto Loans Are Hurting The Poor
FILE - In this May 19, 2010 file photo a sign for a Wisconsin Auto Title Loans store is seen in Madison, Wis. A new law will take effect at the start of the new year limiting payday loans to no more than $1,500 and banning loans secured by vehicle titles altogether. (AP Photo/Ryan J. Foley, File)
FILE - In this May 19, 2010 file photo a sign for a Wisconsin Auto Title Loans store is seen in Madison, Wis. A new law will take effect at the start of the new year limiting payday loans to no more than $1,500 and banning loans secured by vehicle titles altogether. (AP Photo/Ryan J. Foley, File)

The rusting 1994 Oldsmobile sitting in a driveway just outside St. Louis was an unlikely cash machine.

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