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Payday Lending

Thriving in low-income areas where few banks operate, payday lenders take a chunk out of people's paychecks. NCTC works to raise awareness of how payday lenders weaken families and communities.

Link Who Borrows from Payday Lenders?
A research paper that uses recently released data from the Federal Reserve Board to examine the financial and demographic characteristics of payday loan borrowers. Provided by Center for American Progress.
Link Survey Confirms Public Support for Cracking Down on High-Cost Lending
Results of a survey which found high levels of support for a 36% cap on interest rates on payday loans. Provided by Center for Responsible Lending.
Link A 36% APR Cap on High-Cost Loans Promotes Financial Recovery
An Issue Brief that argues that the urgent need to stimulate the economy makes reforming predatory lending a priority. Provided by Center for Responsible Lending.
Link Predatory Profiling
A long analysis that reveals that the racial and ethnic composition of a neighborhood is the primary predictor of payday lending locations, while playing a very minimal role in explaining the variation in the location of bank branches. As a result, payday lending storefronts are most heavily concentrated in African American and Latino communities. Provided by Center for Responsible Lending .
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