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U.S. Bank competes with payday lenders (access required)

In an attempt to encourage low-income people to use traditional banking rather than more costly alternatives such as payday lending, U.S. Bank has announced Simple Loan, a short-term, small-dollar lending program. With Simple Loan, U.S. Bank checking account customers can borrow between $100 and $1,000, the company said. Repayment takes place over three months via three ...

About Sharon Fisher

Sharon Fisher is an Idaho Business Review staff writer, covering financial institutions, technology, and business development. She holds a bachelor of science in computer science from Rensselaer Polytechnic Institute, and a masters in public administration and graduate certificates in geographic informational analysis and in community and regional planning from Boise State University. She likes explaining things and going to meetings. Join me on Twitter at @IBR_SLFisher.