Fact check
December 28, 2009 | alternatives, federal legislation, industry | Comments (0)In this interesting Q&A titled “What’s on Bankers’ Minds?” this caught our attention:
Mroz: My daughter’s husband is in construction. His hours have been cut back and they needed medicine for the baby, so she went to the ATM and overdrew her account. She knew perfectly well what she was doing, but what are the other options?
Brown: She could go to a payday advance.
Mroz: Right, and it would have cost her more.
Payday lending customers frequently choose the service to avoid more expensive overdraft protection.
Comments»
No comments yet.