Let me make it clear about Some major banking institutions will not provide advances that are payday-like

Let me make it clear about Some major banking institutions will not provide advances that are payday-like

A Wells Fargo bank in Woodbury, Minn.

The high-cost, quick-fix deposit advance loans made available from some banking institutions will likely be discontinued in 2014 after customer advocates dubbed these products as debt traps.

At the time of Saturday, both Fifth Third Bank and Wells Fargo, which had customers in Michigan, will place limitations on new clients signing up for deposit advance items. Continue reading “Let me make it clear about Some major banking institutions will not provide advances that are payday-like”