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Are payday loan providers like Tampa-based Amscot a part that is necessary of banking industry?

Are payday loan providers like Tampa-based Amscot a part that is necessary of banking industry?

TAMPA — Tanya Agliano required $400 to fund her spouse’s insulin. She stated she will not be eligible for a loan that is traditional her bank. Therefore she went up the road to Amscot.

Agliano is similar to almost 50 % of other People in the us who would not have the money to pay for an urgent $400 bill and often seek out payday loan providers.