CFPB: online pay day loans hit customers with concealed danger. Customers who seek out

CFPB: online pay day loans hit customers with concealed danger. Customers who seek out

Customers whom move to online loan providers for payday advances face concealed dangers of high priced banking charges and account closures, relating to a federal analysis released Wednesday. 1 / 2 of the borrowers whom got the high-interest loans online later had been hit with on average $185 in bank penalties for overdraft and non-sufficient funds charges once the loan providers presented more than one payment needs, the buyer Financial Protection Bureau analysis discovered. 1 / 3rd associated with the borrowers whom racked up a bank penalty fundamentally faced account that is involuntary, the report also discovered. (mais…)

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