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Why Banks and Credit Unions Hate Payday Loans

By jerjer77 328 days ago from http://paydayloanindustryblog.com

Article describes the real reasons banks, credit unions and so-called consumer protectionists hate the payday loan industry. Follow the money! It's not about protecting consumers. It's about the cash! 18% of a banks NET PROFIT and 60% of a credit unions NET PROFIT is derived from NSF's or overdraft protection!

Consumers living in states that have banned payday loans pay more in NSF fees and have a higher rate for bankruptcy filings

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Tags: payday loan payday loan business payday loan industry


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