Payday Loans and Deposit Advance Products
October 24, 2015 5:00am by
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Responsible employers need to have reasonable paycheck advance policies to keep their lower paid employees out of the teeth of these loan sharks. Maybe anybody who is paid less than 2X minimum wage should have the ability twice a year to get a graduated pay advance. First they can get a 60% advance, the following pay period a 40% advance and then a 20% advance. If they ask for that twice within a year they should get mandatory financial advice.
That’s what banks and credit cards are for, not to mention credit unions.