Cash Pay Advance

One Salt Lake City councilman has called the proliferation of payday lenders an “epidemic. Martin wants the capital to follow the lead of eight other Salt Lake County cities and the county itself in capping the number of these businesses. When payday loans are so readily available (there are 110 listings for such lenders in the Salt Lake City DEX directory), too many people can get cash quickly and easily, even when they can’t afford the interest. Payday lenders, otherwise known as check cashers or deferred-deposit lenders, can suck in people who tend to rely on them excessively for extra money when they’ve run out of cash. In the financial marketplace, where banks charge huge fees and penalties and can jack up credit-card interest rates with hardly a by-your-leave, payday lenders may not be the worst predators on the block. Find Out More

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