Proceed To Pull Customer Protection Rule Heightens Debate Over Payday Lending

A medical assistant named Angela walked into a branch of Advance America at a strip mall and asked for a loan during a recent lunch hour in Springfield, Va. She’d borrow $300 and guarantee to pay for it right right back within thirty days, with yet another $73 in interest and costs.

This loan would help cover a family day at ny, stated Angela, whom asked NPR never to make use of her name that is last for reasons. She states she prefers payday advances because she does not trust by herself with bank cards and she would prefer to maybe not approach her household for assistance.

“Everyone’s struggling. So, you should not ask,” she claims. (more…)

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