If you’re provided a short-term advance on your own paycheck at a triple-digit interest, it might seem you are being pitched a quick payday loan ??” a product that’s essentially prohibited in Maryland along with other states with price caps.

Exactly what if that deal originated from your bank?

Several banking institutions, including Wells Fargo & Co., provide deposit advance programs that enable clients with direct deposit to borrow secured on their next paycheck. The lender gathers its due once the paycheck is straight deposited into the account an or so later week. Continua a leggere →