FYI: (The Linkster thinks a loan shark by any other name is still a loan shark !)
U.S. Bank, one of the country’s biggest banks, has again begun offering customers small, high-cost loans, saying the loans now have safeguards to help keep borrowers from getting in over their heads.
The loans, between $100 and $1,000, are meant to help customers deal with unexpected expenses, like a car repair or a medical bill, said Lynn Heitman, executive vice president of U.S. Bank consumer banking sales and support. But the fees equate to an annual interest rate of about 70 percent.
Regards,
Ted
https://www.nytimes.com/2018/09/21/your-money/alternative-payday-loans-high-interest-us-bank.html?rref=collection/sectioncollection/your-money&action=click&contentCollection=your-money&region=stream&module=stream_unit&version=latest&contentPlacement=1&pgtype=sectionfront
