There are many reasons people don’t have bank accounts. For one thing, check-cashing stores can actually be cheaper than fees on everything. But some of these customers also use such “non-bank lenders” for a “payday loan,” or a two-week advance on their next paycheck. In the early 1990s, 36 states bowed to lobbying pressure and authorized small
Can’t Wait Til Payday: PayDay Lenders Continue To Prey On The Poor
Payday loans are a huge industry in the U.S., and millions rely on them. But the predatory practices of the lenders are meeting more urgent calls for reform.