New CRL Report on the Real Impact of Payday Loan Apps: Escalating Debt
New data show apps multiply costs and financial insecurity for borrowers – puncturing industry claims DURHAM, N.C. – The Center for Responsible Lending (CRL) today released a report, “Escalating Debt: The Real Impact of Payday Loan Apps Sold as Earned Wage Advances (EWA),” which shows that people who take out these loans experience steep and mounting costs as well as...