There are more payday loan providers within the U.S. than McDonald’s or Starbucks, showing economic conditions in which quick cash is more important than fast food.
Payday lending, for which customers spend a payment for exactly what amounts to an advance on the paychecks, has blossomed over the past 20 years. There are now a lot more than 20,000 nationwide, in line with the St. Louis government Reserve, while McDonald’s boasts 14,267 places.
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