High-cost loans from banks one step within the direction that is wrong

High-cost loans from banks one step within the direction that is wrong

U.S. Bank recently introduced a brand new small-dollar loan item. Because of the bank’s own description, it is a high-cost item, at 70-88% APR.

High-cost loans by banking institutions provide a mirage of respectability. An element with this impression may be the idea that is misguided restricting payment size to 5% of revenues means the mortgage is affordable for many borrowers. Continue reading “High-cost loans from banks one step within the direction that is wrong”