These loans are called "payday" because you're supposed to pay them back as soon as you get paid. In fact, if you don't have a job, you can't get one. Borrowers tend to be young and lower middle class. The loans are typically not used for crack or heroin or broken bones or other unforeseen problems, but for baby food, mortgages and car payments. These loans are holes in dams that risk overflowing. The most common type of borrower is a white woman, often single mothers. And, says Carol Hammerstein, spokesperson for the Center for Responsible Lending, "payday lenders locate in neighborhoods where people of color live more frequently than white neighborhoods."