Payday Loans and Consumer Financial Health

by Federal Reserve Board

For a two-week $300 payday advance loan, payday lenders typically charge in excess of$45, a cost so high that many believe the loan could not possibly be in the best interest of theborrower. Nevertheless, some estimates indicate that payday loan volume grew more than fivefoldto almost $50 billion from the late 1990s to the mid 2000s (Stegman 2007). With the recentrise of the payday lending industry, questions abound about the characteristics and circumstancesof...

• Format: Paperback
• Language: English
• ISBN: 1503283518
• ISBN13: 9781503283510
• Release Date: November 2014
• Publisher: Createspace Independent Publishing Platform
• Length: 34 Pages
• Weight: 0.23 lbs.
• Dimensions: 0.1" x 8.5" x 11.0"