Will Small Dollar Loans from Banks Put Payday Lenders Out of Business

Four major banks now offer low-cost, short-term loans

Andy Spears
3 min readDec 11, 2022

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Photo by Precondo CA on Unsplash

The payday lending industry capitalizes on the need to access short-term cash quickly — usually for an emergency or unplanned expense. Most major banks don’t offer these types of products — loans for $500 or less — because the cost to issue and service these…

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Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .