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Expensive Bank Pay Day Loans Criticized in Report

Expensive Bank Pay Day Loans Criticized in Report

A number of the nation’s largest banks continue steadily to provide pay day loans, pitched as advances on direct-deposit paychecks, despite growing regulatory scrutiny and mounting critique in regards to the short-term, high-cost loans.

The findings, outlined in a written report because of the middle for Responsible Lending become released on Thursday, give you the latest glimpse to the techniques that banking institutions are aggressively utilizing to make new income.