As states wrestle with how to “reform” payday lending, a CRL analysis shows that curtailing payday lending does not increase overdraft loans fees.
Search Payday Lending - Policy & Legislation - States
Browse Payday Lending - Policy & Legislation - States
- Springing the Debt Trap-Exec Summary
Published: Dec 13 2007 Issue: Payday Loans
Executive summary of Springing the Debt Trap - outlines what reforms states have tried, documents that none have worked except for the 36% rate cap.
- CRL Critique of “Payday Holiday: How Households Fare After Payday Credit Bans” by Donald P. Morgan and Michael R. Strain
Published: Dec 10 2007 Issue: Payday Loans
A working paper by a staffer at the Fed Bank of NY is fundamentally flawed, offers no valid information, and is being used to justify policy that keeps low-wealth borrowers trapped in...
- The Payment Plan Smokescreen
Published: Jun 4 2007 Issue: Payday Loans
Facing increasing scrutiny of the problems caused by payday lending, the industry trade group recently announced a new public relations campaign that claims to address the problem of loan flipping...
- CRL Review of "Defining and Detecting Predatory Lending" by Donald P. Morgan, Federal Reserve Bank of NY, January 2007
Published: Jan 23 2007 Issue: Payday Loans
CRL critiques faulty research report by Don Morgan, which attempts to compare states with and without payday lending but misidentifies many of those states.
- Georgia's Payday Loan Law: A Model for Preventing Predatory Payday Lending
Published: Jun 29 2006 Issue: Payday Loans
Brief analysis of Georgia's law preventing payday lenders from circumventing their consumer credit interest rate cap and other protections.