Predatory loan providers add force for easier credit

Predatory loan providers add force for easier credit

On an afternoon that is sunny traffic rolls along Charlotte’s busy North Wendover path.

Periodically, a vehicle eases right into a strip shopping mall in a community of flats, plus the motorist files right into a storefront under a sizable, green ACE money Express sign. It advertises “checks cashed,” “prepaid debit cards” and services that are similar required by low-income borrowers without reports at commercial banking institutions.

“Can I have a loan?” one asks. “No sir,” the clerk replies. “North Carolina does not let us here make loans.” Then he quickly volunteers, “A great deal of our clients head to ACE in Rock Hill or Fort Mill. They’re the two closest to Charlotte.”

Another ACE Cash employee is equally helpful under a similar green sign in a strip mall 45 minutes away in Fort Mill, S.C. (más…)

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