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Yasmin Farahi ‌

Yasmin Farahi

Deputy Director of State Policy & Senior Policy Counsel

Payday and Other Small Dollar Loans Student Loans

Yasmin Farahi is a deputy director of state policy and senior policy counsel based out of CRL’s Durham, North Carolina office. She advises local organizations and lawmakers that are working to eliminate abusive lending practices in their states, with a particular focus on small dollar lending and student loans.

Prior to joining CRL, Yasmin was a civil rights attorney at Disability Rights NC working with clients who faced barriers to full participation in community life. She was also a consumer protection and employment law attorney at Legal Services of Southern Piedmont in Charlotte, NC, focused on helping homeowners facing foreclosure during the financial crisis.

Yasmin graduated with honors from N.C. State University with degrees in Political Science and Philosophy and received her law degree from New York University School of Law. Outside of work, she enjoys traveling, exploring the local food scene, and spending time outdoors with her family.

Research & Policy

Paying to be Paid: Consumer Protections Needed for Earned Wage Advances and Other Fintech Cash Advances

Monday, October 14, 2024

Paying to be Paid: Consumer Protections Needed for Earned Wage Advances and Other Fintech Cash Advances

Among the hottest consumer finance topics in recent years is the proliferation of online lenders offering fintech cash advances, including the subset of those lenders who offer earned wage advances (EWA). These are very short-term loans of small dollar amounts that users can access through a smartphone app. Lenders that offer these products strenuously attempt to avoid being regulated like...
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Research
Payday and Other Small Dollar Loans

A Loan Shark in Your Pocket: The Perils of Earned Wage Advance

Monday, October 14, 2024

A Loan Shark in Your Pocket: The Perils of Earned Wage Advance

Online lenders offering earned wage and cash advances primarily through cell phone apps have proliferated in the past decade, with companies claiming that existing credit laws do not apply to their products.
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Research
Payday and Other Small Dollar Loans

Stepping Up: States Move to Hold Student Loan Servicers Accountable

Thursday, November 12, 2020

Stepping Up: States Move to Hold Student Loan Servicers Accountable

Download a table of state student loan servicing laws from the report. (Updated September 2022) Today, 44 million Americans are saddled with student loan debt. They currently owe over $1.5 trillion—an amount which has more than doubled over the last decade. The causes of this exploding debt burden are many: increasing tuition, stagnant wages, the shifting role of federal government...
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Research
Student Loans

The Sky Doesn't Fall: Life After Payday Lending in South Dakota

Monday, January 13, 2020

The Sky Doesn't Fall: Life After Payday Lending in South Dakota

For more than a decade, payday loans, car-title loans, and high-cost installment loans in South Dakota have carried charges exceeding 300% annual percentage rate (APR). In 2016, South Dakotans approved lowering the cost of payday loans, car-title loans, and installment loans to an annual interest rate cap of 36%, inclusive of all fees and charges. The vote in favor of...
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Research

New Jersey Must Act to Address Student Loan Crisis

Tuesday, October 16, 2018

New Jersey Must Act to Address Student Loan Crisis

In the last decade, student loan debt has exploded, directly impacting the lives of millions of Americans and leaving its mark on the entire economy. There are currently over 44 million Americans with student loan debt. With the costs of higher education continuing to rise at alarming rates and a college education becoming a requirement for more and more jobs...
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Policy & Legislation
Student Loans

News

Thursday, February 6, 2025

New Report: Predatory Payday Lenders Took $2.4 Billion in Fees from Borrowers in a Year

Monday, November 25, 2024

Earned Wage Access: Innovation or Payday 2.0?

Wednesday, December 20, 2023

States must protect consumers from high-cost fintech cash advances

Friday, September 8, 2023

Why so many people are paying to get their paychecks

Monday, June 12, 2023

New CRL Map Shows Excessive Payday Lending Interest Rates Still Plague Over Half of U.S. States

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Building on Over 40 Years of Lending Experience

CRL’s expertise gives it trusted insight to evaluate the impact  of financial products and policies on the wealth and economic stability of Asian, Black, Latino, rural, women, military, low-wage, low-wealth, and early-career workers and communities.

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