Cash advance stores target demographics being economically susceptible and not only in towns. The median household income is $31,000 and 30 percent live below the poverty line for instance, in rural Niles, Michigan, where the population is just 11,000 residents. Yet, you can find eight payday shops within a two-mile radius.
Recently, U.S. Bank rolled down a payday loanвЂ“like product because of its clients, lending them as much as $1,000 temporary, with prices that climb to $15 per $100 lent. Read more