Dave Adams: Payday loan providers, and the next without them

Dave Adams: Payday loan providers, and the next without them

Dave Adams may be the CEO associated with the Lansing-based Michigan Credit Union League and CU Solutions that is livonia-based Group

Could you name the industry that boasts more storefronts nationwide than McDonald’s and Starbucks? The solution may surprise you — oahu is the payday financing industry.

Each issue about 3,000 loans per year, generating $935 million in annual revenue statewide in Michigan, close to 600 payday lending storefronts.

That cash comes at a higher price to customers such as for instance Kathy from Lansing. Continue reading

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