Comes from a spokesperson from a CFSA Member Company, when commenting on banks entering into the payday loan arena, featured in this Las Vegas Review Journal article.

“There is a growing need for access to short-term credit,” said Jaime Fulmer, an Advance America spokesman. “Credit unions and banks offering short-term loans is a reflection of consumer demand.”

Truth is, though, that they’ve been offering direct deposit advances for quite some time (and Wells Fargo isn’t the only one).

“We have been offering these loans for a while,” said Richele Messick, a Wells Fargo spokeswoman. “To be eligible, you have to be an established Wells Fargo checking customer with recurring direct deposit or a tax refund.”