Popular cash loan application Earnin operating in payday loan ‘gray area,’ critics claim
Robinhood apparently faces SEC probe pertaining to relates to high-speed traders
AJ Smith understands exactly about folks owing cash. In the end, he’s a debt collector in Las Vegas, the gambling money around the globe. Therefore last March, whenever Smith downloaded Earnin, an application that fronts employees section of their paychecks early, he didn’t think any such thing from it. It had been money he’d currently received, the ongoing company stated it prevented overdrafts, and any charges had been optional: The software called them “tips.” “It had been simply ways to get a few bucks in some places,” said Smith, that would tip just as much as 9 for one-week, 100 loans. Continue reading