A major bank is providing payday-style loans. Will others follow suit?

A major bank is providing payday-style loans. Will others follow suit?

U.S. Bank claims it’s going to provide almost immediate tiny loans to its clients, becoming the very first bank to offer such a product since federal regulators cleared the way in which early in the day this season amid continuing issues within the expenses of payday advances.

The Minneapolis organization, the nation’s fifth-largest commercial bank, stated its bank account holders should be able to quickly borrow $100 to $1,000, adequate to protect numerous crisis costs, through its Simple Loan offering. Continue reading “A major bank is providing payday-style loans. Will others follow suit?”