Monthly Archives: August 2016

Payday lenders switch to installment loans

Trying to outpace regulators, the payday loan industry is shifting from lump sum payment to installment repayment. However, the loans still pose huge risks for borrowers, the Pew Charitable Trusts said on Thursday. “Most installment payday loans have payments that exceed what typical borrowers can afford,” Pew said in a briefing note. “Unaffordable payments can […]