Media Coverage

New York Times: Dimon Pledges to Change JPMorgan's Practices on Payday Loans

Jamie Dimon, the chief executive of JPMorgan Chase, vowed on Tuesday to change how the bank deals with Internet-based payday lenders that automatically withdraw payments from borrowers’ checking accounts.

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According to a report released this month by the Pew Charitable Trusts, an estimated 27 percent of payday loan borrowers say the loans caused them to overdraw their accounts.

Projects:
Safe Small-Dollar Loans Research Project
States:
National
 
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