What is a payday loan?

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A payday loan – which might also be called a “cash advance” or “check loan” – is a short-term loan, generally for $500 or less, that is typically due on your next payday.

There are special protections through the Military Lending Act for active duty servicemembers and their dependents who use certain payday loans and other small dollar credit products.

Go here: :  https://www.consumerfinance.gov/ask-cfpb/slug-en-1567////