Churches step in with alternative to high-interest, small-dollar lending industry
from The Washington Post
Every month for about three years, Nina McCarthy followed the same routine after payday. She'd go into a Check Into Cash near her home in the Richmond, Virginia, area, and pay off an open-end loan for $700 or $800 — and then she'd take out a new one for the same amount, never accumulating interest in the process. Then McCarthy's overtime hours at work were cut. With rent, a car payment and a 3-year-old granddaughter to feed, McCarthy didn’t have $700 for Check Into Cash.
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