High-cost loans from banks one step into the wrong direction

High-cost loans from banks one step into the wrong direction

U.S. Bank recently introduced a fresh loan product that is small-dollar. By the bank’s description that is own it is a high-cost item, at 70-88% APR.

High-cost loans by banking institutions provide a mirage of respectability. A factor with this impression may be the misguided indisputable fact that restricting payment size to 5% of revenues means the mortgage is affordable for some borrowers. Continue reading High-cost loans from banks one step into the wrong direction