The Result: A $35 Overdraft Fee And A Bounced Check.
"It's not even worth it," said Pleas, who is trying to rebuild her finances and her life. Roughly 2.5 million households received a payday loan in 2013, according to an analysis of Census data by the Urban Institute, a Washington-based think tank. The number of households with such loans has surged 19 percent since 2011, even as the U.S. economy has healed from the Great Recession and hiring has steadily improved. Page 2 of 3 - "These are predatory loan products," said Greg Mills, a senior fellow at the Urban Institute.
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