Monthly Archives: September 2018

US bank offers payday loans and is slammed by critics

For years, consumer advocates have decried payday loans as an expensive way to borrow that keeps people trapped in a cycle of high-interest debt. The howls of protest could get louder now that a major bank has offered a similar product. US Bank, the fifth largest bank nationally, lends up …

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An alternative to payday loans, but it’s still a high cost

“At the end of the day,” Ms. Borné said, “a bank that pays its depositors less than 3% interest should lend that money for much less” than an interest rate of 70% or more. Here are some questions and answers about short-term loans: What happens if I run out of …

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