Loan providers offered short-term loans without running all the way through affordability assessments.

Loan providers offered short-term loans without running all the way through affordability assessments. They charged high quantities of interest and extortionate belated repayment costs. Numerous looked to unscrupulous types of commercial collection agency whenever clients couldn’t spend back once again their loans. From 2008-2012, the industry expanded quickly. Customers looked at payday advances as a quick and effortless credit choice, …