Guy whom led work to turn off Arkansas lending that is payday calls U.S. Bank’s brand brand brand new loans ‘very disturbing’

Minneapolis-based U.S. Bank the other day started supplying a small-dollar loan item called Simple Loan that charges interest levels including a lot more than 70 % to nearly 88 per cent.

With Simple Loan, U.S. Bank account that is checking who’ve been using the bank for at the least 6 months while having at the least 3 months of direct build up can borrow between $100 and $1,000 without any concealed charges. Continue reading