By Andy Jennings |
Nov 24, 2015
Small-dollar loans have become increasingly popular nationwide, with the“payday loan” industry growing so fast that U.S. Sen. Dick Durbin (D-IL) recently sent a letter to the Community Bankers Association of Illinois, the Illinois Credit Union League and the Illinois League of Financial Institutions, urging them to work with community banks and credit unions to develop alternative lending options for the nearly 12 million Americans who take out such loans annually.