Banning payday advances delivers hopeless borrowers running to pawn stores

Banning payday advances delivers hopeless borrowers running to pawn stores Until 2008, a cash-strapped client in Ohio searching for a fast, two-week loan from the payday lender will dsicover by themselves having to pay a hefty charge. These unsecured short-term loans—often guaranteed having a check that is post-dated seldom exceeding $500 at a go—carried yearly portion prices (APR) all the…

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