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The Payday Lending Draws Interest From Lawmakers

The Payday Lending Draws Interest From Lawmakers

You will find now more lending that is payday in the U.S. than here are Starbucks outlets.

Into the city of Logan, Utah, in a strip mall close to an audiology hospital and television store, there is a storefront that is little. In a life that is past had been a bank branch; today, it is where Michael Berry works. He is a payday lender, and every time individuals appear in and borrow cash from him.

“Our loan is $1.50 per hundred per day, therefore after 5 times, $7.50,” Berry states. ” It could be $107.50 is really what they owe right back.”