U.S. Bank recently introduced an innovative new loan product that is small-dollar. By the bank’s own description, it is a high-cost item .
High-cost loans by banking institutions give you a mirage of respectability. An element for this impression may be the misguided indisputable fact that restricting payment size to 5% of revenues means the mortgage is affordable for many borrowers. However these items is supposed to be unaffordable for all borrowers and erode protections from ultimately predatory financing throughout the board. Read More