Payday and Other Small Dollar Loans

Press Release Full Pollster's Report A brief poll conducted in November 2010 to guage public opinion of a potential moratorium and other land-use restrictions on paydy lenders in San Jose found that most voters hold an unfavorable view of payday lending; many would like to see stronger restrictions on payday lenders and most believe that the City of San Jose...

This color-coded map of payday stores by household reveals a disturbing pattern. Southern states are among the most targeted for these high-cost, low-dollar loans.

Download the executive summary A full three quarters of loan volume of the payday lending industry is generated by borrowers who, after meeting the short-term due date of the loan, must re-borrow before their next pay period Repeat borrowing of what is marketed as a short-term loan of a few hundred dollars has long been documented, but this report verifies...

While the payday lending industry frequently describes its typical customer in detail, discussion of race is noticeably absent. This report corrects that omission. Our analysis of North Carolina neighborhoods reveals a powerful relationship between the proportion of African-Americans in a neighborhood and the prevalence of payday lending stores. African-American neighborhoods have historically been disadvantaged by unfair lending practices. This study...