How Is That Even Legal?

The Mrs. was watching television recently and came across this commercial. She paused it using the DVR and called me into the room. What I saw shocked me so much, that I decided to take a photo of it to share with you all. Click on the photo to the right and read the fine print. For those of you too lazy to do so, let me tell you what it says: "The APR for a typical loan of $5,000 is 116.73% with 84 monthly payments of $486.58."

Allow me to do the math for those of you too lazy to click on your calculator application: 84 payments of $486.58 is $40,872.72 that you will pay back for that $5,000 loan.

How is that even legal? If I get a loan from this company, I have to pay over $40k over the next seven years? Now do you see why voting matters in our country? Because we have a Congress who cares so little about their constituents that they would allow something like this to even exist?

Whoops! Maybe I just jumped the gun on that statement. I just read a little further on the fine print and it says that "Western Sky Financial, LLC, is a 100% Native American-owned business operating on a Native American Reservation." I guess that means they're untouchable to Congress then.

Looks like the Native Americans are getting their money back after having their land stolen, huh? :)