The government provides countless resources to help military families with financial literacy and even offers low interest loans to help them in times of emergency. So, why are many troops opting to take out risky payday loans instead?
Payday lenders circumvented state laws by moving online, and in the process big banks became enablers (and potentially profited) from payday lending. Now Chase is making changes to protect its customers from payday lenders. Will other banks follow?