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Payday lenders and other short-term lending institutions are regulated by which governmental agency?
Payday loan interest rates are comparable to those you can find at a reputable bank.
Because payday loans have such high-interest rates, they are typically used by high-income households.
Many short-term lenders realize their borrowers will never be able to pay off their loans on time, but they still lend anyway.
Credit checks are not necessary to obtain payday loans.
Imagine someone named Steve takes out a payday loan of $100. In two weeks, he doesn’t have the money to repay the loan in full. Select which option keeps Steve trapped in the cycle of repayment.
Payday lenders charge you interest for each month you keep the loan.
Which types of neighborhoods do Payday Lenders typically service: