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Some banks pulling out of payday loan offers

Payday Loans: Banks Start to Change Their Minds

Posted on January 22, 2014 by Kristy Lamar

Since fast cash payday loans are used by many credit challenged borrowers, the concept was adopted by some banks and credit unions. These financial institutions set up their own short-term payday loan versions to help customers themselves. It made sense for many customers to use their own bank since there was already a trusted relationship. With all the negative reports towards direct payday lenders, it made sense to keep their money solutions all in one. Unfortunately, these loans ended up being problematic for many borrowers anyway. For starters, because bankers … Continue reading →

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