Asked by tava

What do you think payday lenders base their fees on?
There are no human answers yet.
Answered by GPT 3.5
Payday lenders typically base their fees on various factors, including the amount borrowed, the duration of the loan, and the borrower's creditworthiness. However, since payday loans are often high-risk and short-term, the fees are generally much higher compared to traditional loans. Moreover, payday lenders may also consider the state regulations and market conditions when determining their fees.