North Carolina Consumers after Payday Lending
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North Carolina Commissioner of Banks found that low- and middle-income families in North Carolina
have not been negatively impacted by the absence of payday loan shops that once dotted the state’s street corners and strips malls; in fact, many are not aware that they have left. Nine
of ten survey respondents think payday lending is a “bad thing,” and at a two-to-one ratio, former borrowers report that they are better off now that it’s gone.
Published: November 13, 2007