AI Summary

A recent Fortune report finds that about 10 million Americans are using apps that provide cash advances between paychecks, a practice that adds significant expense to already strained budgets. An analysis by the Center for Responsible Lending’s Julian Bond Institute examined bank transactions for 10,000 consumers and discovered that 96 % of direct‑to‑consumer payday‑loan versions included fees or “tips.” Those charges average roughly $208 per borrower each year, or about $17 per month, further tightening household cash flow.

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