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Rust said some of the banks are re-evaluating those commercial loans.
Jennifer Bjorhus • 612-673-4683
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Find the latest news and information about Wells Fargo.
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Pedestrians pass in front of a Wells Fargo & Co. bank branch in New York.
Scott Eells, Bloomberg
Bank payday loans
Median size loan: $180
Median loan length: 12 days
Typical fee: $10 per $100 borrowed
Typical APR: 304 percent
Repetition: More than half of deposit advance users take advances totaling more than $3,000 in a year.
Median monthly deposit of borrowers: $2,996
Source: Consumer Financial Protection Bureau
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650 3rd Ave S., Suite 1300
Minneapolis, MN 55488
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