Utah’s payday lenders hit hard times — 25% of shops near in three years

Occasions are unexpectedly tough for Utah’s payday loan industry — which makes cash on the a down economy of others by recharging astronomical interest levels to cash-strapped people who have dismal credit and few other available choices.

• One of each 4 cash advance shops in Utah closed into the previous 3 years.

• To attract company in sluggish times, payday loan providers dropped their typical rates of interest a bit. Continue reading