Mainstream banking institutions have played a role that is big the expansion of payday financing throughout the country

Mainstream banking institutions have played a role that is big the expansion of payday financing throughout the country

The part of Mainstream Banks

A 2010 article within the Wall Street Journal reported that numerous banking institutions, including banking institutions which had gotten bailout funds through the government, had mostly refused to provide cash to people or smaller businesses. Having said that, payday lenders usually gotten substantial loans from all of these banking institutions. In accordance with the article, Wells Fargo made the largest quantity of loans to payday lenders.Continue reading