Payday Lenders Are Making Bank on High-Interest Products
- Enova, Curo Group are increasing revenue with new offerings
- Critics say the new products create the same debt traps
Photographer: Aaron M. Sprecher/Bloomberg
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Payday lending stocks are beating records. Mostly because they’re no longer payday lenders.
Enova International Inc. has more than doubled so far this year, the best performer in the Russell 2000 Consumer Lending Index, followed by rival Curo Group Holdings Corp., up 64 percent.