Question

payday loan stores are regulated to ensure low interest rates. *
true
false
a common requirement to use a payday loan store is: *
excellent credit score
home ownership
proof of steady income or employment
bank account with $10,000 minimum

Explanation:

Payday loans are short - term, high - interest loans. They are not regulated to ensure low interest rates. In fact, they often have very high - interest rates. For the second question, payday loan stores typically require proof of steady income or employment (since they rely on the borrower's next paycheck for repayment) rather than an excellent credit score (as they may be used by those with poor credit), home ownership, or a large bank balance.

Answer:

1. B. False
2. C. Proof of steady income or employment