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Perfect Storm: Payday Lenders Harm Florida Consumers Despite State Law

March 24, 2016
Payday and Other Small Dollar Loans
Payday Loans

New CRL research confirms that over the past decade, a Florida law that was enacted to protect Florida consumers from the predatory harms of payday lending has done the exact opposite. Instead, since 2005 payday loan borrowers in the Sunshine State have spent over $2.5 billion in payday loan fees. Further, Florida's senior citizens and consumers of color are the most likely to become borrowers at one of the state's many storefront locations.