Report confirms facts
In November 2008, the FDIC released a report called Study of Bank Overdraft Programs. While payday lenders and their customers have known for years that taking out a payday loan is cheaper than overdrawing your bank account, this study calls attention to this fact.
Fee comparison
Lawrence Meyers from Blogger [...]
Payday lenders in hot water
Last year Virginia passed a 36 percent interest rate cap on payday advance loans. In an effort to save their businesses, payday lenders began finding ways around the debilitating law by offering open-ended credit.
Under Virginia open-ended credit laws, lenders can charge any interest rate as long [...]