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