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2 Payday Lending and State Regulation

2 Payday Lending and State Regulation Payday lending is widespread. FDIC (2013) estimates that 4.7% of all of the U.S. households have actually at a while utilized lending that is payday while Pew Charitable Trusts (2012) places the figure at 5.5per cent of U.S. grownups. In 2005, payday storefronts outnumbered McDonald’s and Starbucks places combined (Graves and Peterson, 2008). Loan providers stretched $40 billion in payday credit this year, creating profits of $7.4 billion (Stephens Inc., 2011). Up to now [...]

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