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State of Lending in America
The report outlines predatory lending practices in various fields of consumer lending, and explains why protecting fair, affordable access to credit is vital for both consumers and the U.S. economy.

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Payday & Other Small Dollar Loans

On average, payday loans carry a 391% APR (annual percentage rate). Strategically located in low-income neighborhoods, payday loan stores reap billions of dollars in interest and fees on a product designed to force borrowers into repeat loans. Because lenders are first in line for repayment with the customer’s check, dated the customer’s next payday, or access to the checking account, they make loans without regard to the borrower’s ability to repay.

Research & Policy

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EVP, Director of State Policy
Senior Vice President for Federal Policy
Executive Vice President