News About the Ever-Changing Payday Advance Industry
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David Seely, president of Kirtland Federal Credit Union, which makes small, short-term, personal loans to its members at a federally mandated interest rate cap of 18 percent or less, doesn't want to hear it.
What demographic do providers of payday loans NOT focus on?!? Naturally, these lenders try to make money off anyone they can - military men, African-Americans, anyone in need of a cash advance.
Are payday loans good or bad for consumers? That's a question often debated, but certain facts can't be questioned regarding these resources.
Pawn shops? Those are SO a few years ago.