Preying on pay check tional bankers mare joining up with storefront financial institutions to profit fr

Exactly how nationwide bankers mare teaming with store creditors to cash in on high-interest loans towards inadequate

Brendan I. Koerner

Financing problems dogged Stewart Wilson in the summer of 1996. A naval trivial officer in Jacksonville, Florida, Wilson was in the midst of an expensive breakup and the credit score had been abysmal. He needed cash, quickly, but his or her sole option for a loan would be from a nearby check-cashing outlet, wherein he had been expected at hand in excess of a, postdated to their next pay day, for $250.

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