CFFPP

Payday Lending and Auto Title Lending: Who Borrows and Why?

Date: September 21, 2016
Author(s): Susan M. Stanton

Payday and auto title loans threaten the economic security of some individuals, families and communities. The presence of loan stores combined with the absence of banks in these communities makes it tempting for mothers and fathers with economic need to take out an initial loan. The structure of the payday and auto title loans often furthers economic instability for individuals, families and communities of color with low-incomes. Read paper here.