Consumers Warned About Pitfalls of Online Pay Day Loans
Consumers Warned About Pitfalls of Online Pay Day Loans Online lending that is payday get to be the crazy West of customer finance, replete with fraudulence, threats and unauthorized account withdrawals. That’s the picture painted by a written report released on by the Pew Charitable Trusts thursday. The report uses current actions by federal regulators against fraudulent online loan providers. Payday advances are usually tiny, short-term, high-interest loans produced in advance of a paycheck. Typically, payday lenders operated away from storefronts, but...