BankThink High-cost loans one step into the incorrect way

admin Maryland Payday Loan Online Leave a Comment

U.S. Bank recently introduced a fresh small-dollar loan item. Because of the bank’s own description, it is a high-cost item, at 70-88% APR. High-cost loans by banking institutions provide a mirage of respectability. A factor of the impression could be the misguided indisputable fact that restricting payment size to 5% of revenues means the mortgage is affordable for some borrowers. …