Anger at overdraft grows
September 29, 2009 | USA Today, alternatives, industry, positive media coverage | Comments (0)USA Today story today points out that payday loans can be a cheaper alternative:
G. Michael Flores, founder of Bretton Woods consulting firm, says younger consumers with low to moderate income are the ones using both payday loans and bank overdraft coverage.
“We’ve been saying it for a long time, that (with) virtually any comparison of the cost of what we do and the cost of a (bank automatic overdraft), the payday product is much cheaper,” says Billy Webster, board chair of Advance America.
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