Sentences with phrase «payday loan customers»
Thus, before the arrival of payday loans customers had no other choice but to resort to family or non traditional financial solutions usually illegal and extremely expensive.
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Since many payday loan customers do not fully understand the terms of the loans, it isn't that hard to steal customers from banks.
They have put various caps on payday loans in order to ensure that they are fair, and protect payday loan customers.
The study found that while payday loan customers frequently do not have perfect credit scores, their average household income generally falls below $ 50,000 but above $ 20,000.
In addition, payday loan customers usually have checking accounts - that's where their paychecks go, after all.
A fall in the number of payday loan customers being hit by extra charges is being welcomed by Christians... More
Lenders tend to target the poorest communities; the mean annual income of a payday loan customer is $ 26,167, according to the Consumer Financial Protection Bureau.
... [T] he common denominator of the majority of payday loan customers is their financial vulnerability.