Marketplace Substitute For Payday Lending: It’s Doing Work in Texas. A substitute for Predatory Lending

Marketplace Substitute For Payday Lending: It’s Doing Work in Texas. A substitute for Predatory Lending

“Once payday lenders in Texas get yourself a hook that you can never get out of it on you, the system is designed so. Other states have price caps. We’ve absolutely nothing. It’s very much the wild western. For a 14 time $500 loan, the charges in Texas are $115, 2 times exactly what it really is various other states.”

The charge for a $500 pay day loan in Michigan is $65.Continue reading