Need Cash Fast? US Bank Unveils Payday Loan Program With 88% APR #Marketing @MondoPlayer [Video]

Cristian WorthingtonFeedToPost, MediaVidi Twitter

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Just as Goldman Sachs is putting the breaks on what had been a rapidly expanding consumer lending business amid growing doubts about how its $4 billion portfolio might perform during a downturn, US Bank is gambling on the riskiest form of consumer credit, offering old-fashioned pay-day loans...

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Just as Goldman Sachs is putting the breaks on what had been a rapidly expanding consumer lending business amid growing doubts about how its $4 billion portfolio might perform during a downturn, US Bank is gambling on the riskiest form of consumer credit, offering old-fashioned pay-day loans with a digital twist.

Last month, US Bank introduced “Simple Loan”, an online-lending platform that combines the ease of Quicken Loans’ app-based platform with usurious interest rates.

Bank

USB