"Mr. Corker, once a director for a SunTrust Bank affiliate, also has received campaign contributions from a number of banks that are pushing for more regulations of nonbank identities..."
Wake up folks....The opponents of short-term lenders are funded by those who stand to gain billions in fees with the loss of this important consumer financial option.
Remedial Math Question?
If a payday loan is a
$15 per $100 borrowed for 14 days
and the average bank or credit union overdraft "PROTECTION LOAN" is
$27+ on $36 borrowed for 3-4 days
which is the better option for consumers???
Unless you're going to eliminate all the fees banks, credit unions, credit card companies and all merchants can charge for overdraft, late, over limit, etc. as well as $40 Billion in available consumer credit:
CONSUMERS/FAMILIES SAVE MONEY BY ACCESSING PAYDAY LOANS
Corker shaping payday loan rules in financial reform package
"Mr. Corker, once a director for a SunTrust Bank affiliate, also has received campaign contributions from a number of banks that are pushing for more regulations of nonbank identities..."
Wake up folks....The opponents of short-term lenders are funded by those who stand to gain billions in fees with the loss of this important consumer financial option.
Remedial Math Question?
If a payday loan is a
$15 per $100 borrowed for 14 days
and the average bank or credit union overdraft "PROTECTION LOAN" is
$27+ on $36 borrowed for 3-4 days
which is the better option for consumers???
Unless you're going to eliminate all the fees banks, credit unions, credit card companies and all merchants can charge for overdraft, late, over limit, etc. as well as $40 Billion in available consumer credit:
CONSUMERS/FAMILIES SAVE MONEY BY ACCESSING PAYDAY LOANS