Installment loans by Payday lenders evade laws and perpetuate predatory assault on consumers

Installment loans by Payday lenders evade laws and perpetuate predatory assault on consumers

Student in Law and Economics, Vanderbilt University

Installment loans look like a kinder, gentler form of their “predatory” cousin, the loan that is payday. However for customers, they might be a lot more harmful.

Utilization of the installment loan, for which a customer borrows a swelling amount and will pay right right back the main and fascination with a few regular re re payments, is continuing to grow considerably since 2013 as regulators started to rein in payday financing. Continue reading