Regional banks U.S. Bancorp and Wells Fargo & Co. offer “checking account advance” loans that allow customers with direct-deposit accounts to access funds before they are credited to a customer’s account balance. The short-term loans carry annual interest rates of about 120%.
Doesn’t this sound familiar? Payday Lenders can also “advance” you money in your [...]
Entries Tagged as 'Payday Lending'
Direct Deposit Advance Loans – Aren’t They Payday Loans?
April 15th, 2009 · 5 Comments · Banking, Budgeting, Consumer Debt, PayDay Loans
Tags: direct deposit·FDIC regulations·Interest Rates·Payday Lending·US Bank·usuary laws·Wells Fargo
Walmart angling for your stimulus check
May 10th, 2008 · 1 Comment · Consumer Debt
Did you know that Wal-mart charges its own employees a fee to cash its own paychecks? Well, its true and it only point out how poorly Wal-mart pays – otherwise the staff would no doubt have savings and checking accounts and have no need to pay a fee to cash a check. It’s [...]
Tags: Check Cashing·Check Cashing Fees·Payday Lending·Stimulus Checks·Walmart
