Many people are prepared to spend high prices to obtain tiny, short term installment loans.

Many people are prepared to spend high prices to obtain tiny, short term installment loans.

States and urban centers are fighting the expansion of payday-loan workplaces, that offer loans against workers’ future paychecks.

The Chicago City Council, as an example, passed a measure at the beginning of November needing city that is special to open up payday-loan shops. And Cook County State’s Atty. Richard Devine’s workplace has sued one Chicago-area payday-loan company, saying it illegally harassed customers to have them to pay for right back loans. (more…)