Race Matters: Payday Lenders Set Up Shop in African-American Neighborhoods
Download the Report Race Matters: The Concentration of Payday Lenders in African-American Neighborhoods in North Carolina DURHAM, NC -- Payday lenders who trap people in triple digit-interest loans locate their stores in African-American neighborhoods in higher concentrations, according to a report by the Center for Responsible Lending (CRL). African-American neighborhoods in North Carolina have three times as many payday lenders per capita as white neighborhoods, even after controlling for variables associated with the industry's purported customer base such as income and homeownership. "This