BankThink High-cost loans one step into the direction that is wrong

BankThink High-cost loans one step into the direction that is wrong U.S. Bank recently introduced a fresh loan product that is small-dollar. By the bank’s description that is own it is a high-cost item, at 70-88% APR. High-cost loans by banking institutions offer a mirage of respectability. An element of the impression may be the idea that is misguided restricting payment size to 5% of revenues means the mortgage is affordable for the majority of borrowers. However these services and products will likely to be unaffordable for all borrowers and erode protections from ultimately predatory lending over the board. […]