New pay day loan bill could save yourself the industry. Or allow it to be more lucrative.
A bill in the Legislature that would result in bigger loans and higher fees is a gift to a predatory industry for critics of payday lenders.
At a look, they might be appropriate. Floridians, mostly in bad areas, took away a staggering 7.7 million payday advances over one year in 2016 and 2017. And almost a 3rd of most clients took down at the least 12 loans that 12 months, an obvious indication of the "debt trap" that lenders make money from, experts state.