The Shapeshifter: Ken Rees of Elevate and Think Finance

The Shapeshifter: Ken Rees of Elevate and Think Finance

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Ken Rees could be the CEO of payday lender Elevate plus the former CEO of Think Finance, the payday mortgage lender that Elevate spun out of in 2014. Rees and Elevate offer installment loans which they claim are an improved alternative than payday advances. This claim will not endure, but, in light of Elevate’s very high interest levels of as much as 378.95per cent. Rees and Elevate have even recognized the high interest levels regarding the loans they supply, with Rees saying they offer are an “expensive as a type of credit. they are perhaps not providing “rock-bottom” prices therefore the terms and conditions of the solicitations acknowledging that the loans” due to their astronomical interest levels, Elevate raked in more than a half billion dollars in 2013 alone. Plus they showered over $210,000 of the money on federal lobbyists to try to hinder laws associated with loan industry that is payday.