MoneyWise :: Payday lenders giving advances on unemployment checks

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Released: March 08, 2010

Payday lenders giving advances on unemployment checks

Source: Robert Faturechi, Los Angeles Times [Baltimore Sun] (Free Registration)

The payday loan industry has found a new and lucrative source of business: the unemployed.

Payday lenders, which typically provide workers with cash advances on their paychecks, are offering the same service to those covered by unemployment insurance.

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