Costly Loans to Desperate Individuals Built This $90 Billion Industry

Costly Loans to Desperate Individuals Built This $90 Billion Industry

Through the government that is partial, Wilbur Ross couldn’t understand just why furloughed employees didn’t simply “get that loan.”

Pay day loan companies promote their services in Phoenix.

Photographer: Ross D. Franklin/AP Photo

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Cash advance organizations promote their solutions in Phoenix.

Photographer: Ross D. Franklin/AP Picture

Photographer: Ross D. Franklin/AP Photo

Through the current federal government shutdown, U.S. Secretary of Commerce Wilbur Ross wondered aloud why economically stressed federal employees didn’t simply “get financing.”

A rich personal equity investor, Ross encountered excoriation. Nevertheless the question that is underlying, despite having an extra shutdown less likely to want to take place. This is where consumer lenders such as Enova International Inc., Curo Group Holdings Corp. and Elevate Credit Inc. step in for americans with limited options and desperate for cash.

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