APNewsBreak: Senator warns of fees that add up fast in layaway plans at major stores
Posted in Main Blog (All Posts) on November 14th, 2011 5:35 am by HL
APNewsBreak: Senator warns of fees that add up fast in layaway plans at major stores
ALBANY, N.Y. — The return of layaway plans this holiday shopping season is raising concern that the break from credit cards might actually cost consumers far more.
For example, a rock ‘n’ roll Elmo doll that requires a $5 layaway fee and a 10 percent down payment for a month can equal a credit card that charged more than 100 percent interest, U.S. Sen. Charles Schumer said Sunday.
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