Let me make it clear about Consumer Groups Attack вЂPayday Loans’ In storefronts all over Ca a flourishing loan industry providing quick cash at excessive interest levels is under assault by customer teams. “Payday loans” allow borrowing against the next paycheck for a fortnight at a price of $15 per $100--a 390per cent apr. It’s appropriate, but customer advocates call it loan-sharking. And susceptible individuals are being targeted through tv advertisements, they do say, including those currently deeply with debt and also teens who require money for times. “This essentially produces an industry for bad checks,” stated Earl Lui, senior lawyer with Consumers Union. You can borrow from your own next payday, but just what would you do if your next payday comes around?“If you’re short before your payday,” Even
