Payday advances, typically made available from check cashing stores with names like Advance America

Payday advances, typically made available from check cashing stores with names like Advance America

Pay day loans, usually made available from check cashing stores with names like Advance America, Dollar Loan Center or always check City, have gone mainstream. Known for interest levels that may run up to 391 per cent and repayment that is short, these loans are now actually offered at your neighborhood bank. They could be marketed under a name that is different but Wells Fargo & Co. and U.S. Bank are actually providing the loans by letting clients borrow secured on their paycheck for a charge. Customer advocates state these loans act like those typically agreed to low to income that is moderate by loan providers such as for example Advance America or Dollar Loan Center. Continue Reading →