What Is the Alternative to Payday Lending?

This article argues that most of the consumers that use payday lenders are truly “unbanked” because they don’t qualify for services from banks and credit unions.  In an interesting twist, the article suggests that rather than looking for alternatives to payday loans, we should be looking at alternatives to the way in which these individuals are paid, perhaps allowing them to access their pay on a daily basis as it is earned. [4/2/15]