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States and metropolitan areas are fighting the expansion of payday-loan workplaces, that provide loans against employees’ future paychecks

States and metropolitan areas are fighting the expansion of payday-loan workplaces, that provide loans against employees’ future paychecks

The governmental uproar over the growing payday-loan industry belies a fundamental financial reality: some individuals are able to spend high rates to obtain little, short-term loans, which many banks no more offer.

The Chicago City Council, for instance, passed a measure in very early November needing city that is special to start payday-loan shops. And Cook County State’s Atty. Richard Devine’s workplace has sued one Chicago-area payday-loan company, saying it illegally harassed clients to obtain them to cover straight back loans. Read More

States and metropolitan areas are fighting the expansion of payday-loan workplaces, that provide loans against employees’ future paychecks The governmental uproar over the growing payday-loan industry belies a fundamental financial reality: some individuals are able to spend high rates to obtain little, short-term loans, which many banks no more offer. The Chicago City Council, for […]

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