Lenders Risk with Online Payday Loans

http://www.spotya.com/blog/help-with-debt/the-lenders-risks-with-online-payday-loans/ Why do loans from online payday loan companies have higher rates than those from banks and credit unions? The higher costs for these types of loans are derived from the extreme risk which is involved in lending to people who have a bad credit history and no collateral for back up. So is there a risk to lenders? What are your thoughts?

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