In the United States, there is a war going on that revolves around "payday loans".  It appears banks and large financial institutions are at-odds with consumer advocate groups.  Lenders want to keep offering payday loans, but under the guise of "direct deposit advances", to people who need them most, whereas consumer advocate groups feel these loans lead to individuals incurring excessive debt.

Similar to payday loans, direct deposit loans will provide consumers with emergency cash when they need it.  Usually, people will seek these loans in-between paychecks when money is known to get tight.  The day people get paid after taking out loans, banks will take what they are owed plus fees out of their bank accounts. 

However, despite the seamlessness of the transactions, consumer advocate groups say these new cash loans present credit risks to consumers, especially those who get subsequent loans.  They are lobbying for OCC restrictions, but banks say such regulations are not necessary as they are providing a service that many Americans need to survive financial hardships in today's tough economy.

Are you in need of a payday loan because you are facing a financial challenge?  If so, avoid waiting in line at the bank and apply for your payday loan online now and get the cash you need within 24 hours.