Us Banker Op-Ed: Yes, Payday Borrowers Are Forced to sign up for More Loans

Us Banker Op-Ed: Yes, Payday Borrowers Are Forced to sign up for More Loans

American Banker recently published a line protecting loans that are payday.

Mcdougal, Ronald Mann, takes issue with those that state borrowers are “forced” to simply just take another loan out, arguing that this word is just too strong. “Forced” is perhaps not too strong a term.

Payday lenders often pull re payments directly from the debtor’s bank checking account the moment they receives a commission, so because of the finish for the month many people