US Bank launches pay day loan substitute for cash-strapped clients
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Most of us have unforeseen costs. But also for the countless of us that are residing paycheck to paycheck, those unanticipated costs are difficult â€” if not that is impossible pay for.
This week, U.S. Bancorp established an option that is new offer its customers a means away from this kind of bind: Simple Loan, which allows the bankâ€™s checking account customers borrow between $100 and $1,000.
The first of a small-dollar credit choice by a big bank could express a difference in finance institutions getting back to a company they backed away from years back. For customers, it may suggest another solution for their cash-flow plights.