Consumers Warned About Pitfalls of Online Pay Day Loans

Consumers Warned About Pitfalls of Online Pay Day Loans

On line lending that is payday get to be the crazy West of customer finance, replete with fraud, threats and unauthorized account withdrawals.

That’s the image painted by a report released on by the Pew Charitable Trusts thursday. The report uses present actions by federal regulators against fraudulent lenders that are online.

Payday advances are often tiny, short-term, high-interest loans produced in advance of a paycheck. Continue reading “Consumers Warned About Pitfalls of Online Pay Day Loans”