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Payday Loan Apps Cost New Yorkers $500 Million, New Study Estimates from THE CITY - All RSS feed.

Payday Loan Apps Cost New Yorkers $500 Million, New Study Estimates

A pedestrian uses their phone in Manhattan.

Cash advance apps like Dave and EarnIn have charged New York consumers more than $500 million in hidden fees and “tips” since 2019, a new report estimates — allowing the loan platforms to thrive despite New York’s strict limits on consumer interest rates. The report from the New Economy Project concludes that borrowers in New […]

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