CANTON, Ohio — This town of 73,000 is renowned for some things — the Pro Football Hall of Fame, the presidential library of William McKinley, a lively downtown arts scene.
However in banking sectors, it offers gained a far more reputation that is distinct Canton is really a nexus of this payday financing industry, for which individuals who have difficulty making ends fulfill from 1 paycheck into the next sign up for high-interest loans from specialty loan providers.
On 30th Street, a half-dozen payday lending outlets encircle a popular shopping mall, and also at lunchtime they draw a stable audience of clients. In the Advance America shop, Martin Munn stopped in recently together with young child to complete their biweekly banking: Nearly every payday, he cashes their check, takes care of their final loan in complete and takes out a brand new one against their next paycheck. 繼續閱讀