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Tech

Click, Borrow, Repay: Can Tech Make Payday Loans Less Predatory?

For decades, payday loans have drawn criticism and concern from consumer advocates. These small-dollar, short-term loans are designed to provide cash until the borrower's next paycheck arrives. However, with sky-high interest rates and fees, payday loans can quickly become unaffordable "debt traps," leading to repeat borrowing and financial distress.
by Carl Williams
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