During the last ten years, payday lenders have actually proliferated within low-income communities nationwide

During the last ten years, payday lenders have actually proliferated within low-income communities nationwide

marketing by themselves as a fast and way that is easy pay bills. In fact, these loans, with onerous charges and interest levels in more than 100 percent, expense low-income workers billions per year, and sometimes trap borrowers in a long-lasting period of financial obligation.

These lenders can seem a necessary service to cover expenses for those who lack access to traditional financial products and are trying to get by on paychecks that are too small to begin with despite their predatory nature.

Read moreDuring the last ten years, payday lenders have actually proliferated within low-income communities nationwide