- Date:
- February 20, 2013
- Project:
- Safe Small-Dollar Loans Research Project
- Issues:
- Credit & Lending
- State:
- National
Related RESEARCH & ANALYSIS
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- Infographic
- Safe Small-Dollar Loans Research Project
Payday Loans Do Not Eliminate Checking Account Overdrafts
Payday lenders often advertise their loans as a way to avoid expensive checking account overdrafts. Research shows most borrowers end up paying fees for both. more
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May 9, 2013
Payday Loans Explained
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. more
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- Infographic
- Safe Small-Dollar Loans Research Project
Infographic: Payday Loans and Tax Time
How do payday loan borrowers use their tax refund? Pew has shown that payday loans are used for long term expenses instead of emergencies, and that many payday borrowers end up paying off their balances with a cash windfall. more