Cash Pay Advance

Many payday lending shops will be required by an industry trade group to put up small posters displaying their fees and interest rates. The trade group, Community Financial Services Association of America, which represents 60 percent of the industry, issued the new policy Thursday, saying consumers have a right to know the costs of payday lending in simple terms. Payday lenders offer quick cash advances — for a fee — that customers are supposed to repay with their next paycheck. The signs aren’t expected to affect business at the nation’s largest payday lender, South Carolina-based Advance America Cash Advance Centers Inc. Find Out More

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