Florida Courier – Blacks More Likely to Use Payday Loans
Most payday borrowers use the small-dollar loans to cover ordinary living expenses instead of occasional or unexpected emergencies, according to a new research report by Pew Charitable Trusts.
Who Borrows, Where They Borrow and Why, the first in a series of payday lending reports by Pew, also found that 81 percent of those who have used a storefront payday loan would cut back on expenses if the high-cost loans were not available.
Read the full article at flcourier.com.
- Safe Small-Dollar Loans Research Project