A growing number of the nation’s 9,000 credit unions are hoping to steer consumers strapped for cash away from costly payday loans by offering less expensive alternatives.There are about 24,000 payday loan stores in the United States and last year, about 19 million people used one, industry spokeswoman Lyndsey Medsker says.
Medzker says the bulk of [...]

Payday lending also known as fringe lending registered phenomenal growth over the last decade, according a forum sponsored by the National Endowment for Financial Education and the Consumer Federation of America there were no known payday lenders in America in the early nineties. Presently there are over eleven thousands such lenders with revenues in excess [...]

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