So What's Replacing Boarded-Up Payday Lenders? Credit Unions!

So What's Replacing Boarded-Up Payday Lenders? Credit Unions!

Consumers in Washington D.C. have apparently flocked to credit unions since the district outlawed payday lending last year. Payday lenders whined that lending without 300% APRs was utterly unaffordable, but credit unions are proving that it’s possible to make long-term, low-dollar loans with interest rates as low as 16%.