Jan. 17, 2014 Fifth Third Bank News

On Jan. 17, 2014 NPR’s Robert Benincasa reported “Wells Fargo, Fifth Third, U.S. Bank To End Payday Loan Program”. Some states have fought and banned storefront versions of payday lenders, only to find banks filling the gap. The banks were offering payday loans. Hank Klein, a retired credit union president who became an activist against payday loans said about payday lenders “They’ve been run out of the state by the attorney general,” Klein says. “Well, now the banks come in and [they’re] doing the same thing. They operate under federal laws, so the attorney general can’t do anything.”

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