Whenever phone bank worker Melissa Mendez, age 26, felt economically squeezed several months ago—“I had been quick on money and needed seriously to spend rent”—she stepped into a money 1 storefront in Sacramento and took down an online payday loan. The yearly rate of interest: 460 per cent.

That price would surprise a complete great deal of men and women. perhaps perhaps Not Mendez, whom once worked behind the countertop at an outpost regarding the financing giant Advance America. [Read more…]