Payday Loan Facts and the CFPB's Impact
Author: The PEW Charitable Trusts
Topic: Consumer protection
Publisher: The PEW Charitable Trusts
Location: United States
Format: Brief
Content Type: Research
Publication Date: January 14, 2016
Twelve million Americans take out payday loans each year, spending $9 billion on loan fees. The data included here provide facts on the market and borrower usage, plus a brief review of the Consumer Financial Protection Bureau (CFPB) proposed framework to regulate payday and auto title loans.
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