Payday Loans Explained

Project:
Safe Small-Dollar Loans Research Project
Issue:
Credit & Lending
Related Expert:
Nick Bourke

Twelve million Americans take out payday loans every year, but there are still misconceptions about how they are actually used. Follow the story of Jennifer, a typical payday loan customer, who takes out a cash advance on her paycheck to make ends meet, but ends up paying more than $500 in fees.

Added:
May 9, 2013
Length:
01:53
PCS.PRODUCTION.1.20140221.1210 (PEWSUWVMWAPP01)