Westland girl had 350% rate of interest on $1,200 loan — and it is allowed by a loophole

Westland girl had 350% rate of interest on $1,200 loan — and it is allowed by a loophole Karl Swiger could not think just how their 20-something child somehow lent $1,200 online and got stuck by having a yearly rate of interest of approximately 350%. “When we heard I thought you can get better rates…