PT Tuna Indonesia Mandiri

Credit unions, banking institutions getting a share of pay day loan dollars

Payday advances, for decades a fixture in bad, working-class communities, are increasingly on offer by neighborhood banking institutions and worker credit unions — triggering issues by customer teams that more Americans may be caught in high-interest loans which could simply just take years to repay.

Significantly more than two dozen regional and community banking institutions now provide variations of those loans, many beginning their programs since 2007. The increase that is biggest, nevertheless, has arrived at credit unions. (lebih…)