Flipboard<p>One of TV personality Dr. Phil’s maxims is that you should avoid debt at all costs. At the same time, his son Jay McGraw has been involved in the payday lending industry. <span class="h-card" translate="no"><a href="https://newsie.social/@ProPublica" class="u-url mention" rel="nofollow noopener" target="_blank">@<span>ProPublica</span></a></span> collaborated with Anchorage Daily News on a story about his role in CreditServe Inc., a consulting firm that worked with a company owned by a Native American tribe in Alaska that offered small dollar loans, with interest rates as high as 700%. CreditServe provides the infrastructure to market, underwrite and collect on loans while “the Tribe is merely a front” and shares in only a small percentage of the revenue, according to a suit filed by five borrowers. They claim that McGraw has collected hundreds of millions of dollars of consumer payments. </p><p><a href="https://www.propublica.org/article/minto-money-dr-phil-son-payday-lending-alaska" rel="nofollow noopener" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">propublica.org/article/minto-m</span><span class="invisible">oney-dr-phil-son-payday-lending-alaska</span></a></p><p><a href="https://flipboard.social/tags/Money" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Money</span></a> <a href="https://flipboard.social/tags/Finance" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Finance</span></a> <a href="https://flipboard.social/tags/Alaska" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Alaska</span></a> <a href="https://flipboard.social/tags/Anchorage" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Anchorage</span></a> <a href="https://flipboard.social/tags/DrPhil" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>DrPhil</span></a> <a href="https://flipboard.social/tags/FinancialCrimes" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>FinancialCrimes</span></a> <a href="https://flipboard.social/tags/Newstodon" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Newstodon</span></a> <a href="https://flipboard.social/tags/NewstodonFriday" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>NewstodonFriday</span></a> <a href="https://flipboard.social/tags/FollowFriday" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>FollowFriday</span></a></p>