Black Financial Advisor Warns "Beware the Merchants of Debt!"
Certified Financial Planner Jayson Thornton warns the Black community to "Beware the Merchants of Debt." Problematic consumer debt disproportionately affects Black Americans, even those with higher incomes. Thornton highlights two threats: Debt Traps: High-interest loans from pay-advance apps (up to 383% APR) and short-term lenders (200%–500% APR) which keep consumers paying fees. Fake Gurus: Scams using unrealistic guarantees, high-pressure tactics, pyramid structures, and hidden fees. - December 01, 2025
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