Payday Loan Limits May Cut Abuse but Leave Some Borrowers Searching

Payday Loan Limits May Cut Abuse but Leave Some Borrowers Searching

CANTON, Ohio — This town of 73,000 is well known for some things — the Pro Football Hall of Fame, the presidential collection of William McKinley, a lively downtown arts scene.

However in banking groups, this has gained a far more reputation that is distinct Canton is really a nexus of this payday financing industry, for which those that have difficulty making ends satisfy from 1 paycheck towards the next sign up for high-interest loans from specialty loan providers.

On 30th Street, a half-dozen payday lending outlets encircle a popular mall, and also at lunchtime they draw a reliable audience of clients. During the Advance America shop, Martin Munn stopped in recently along with his daughter that is young to their biweekly banking: Nearly every payday, he cashes their check, takes care of their final loan in complete and removes a fresh one against their next paycheck. Читать далее «Payday Loan Limits May Cut Abuse but Leave Some Borrowers Searching»