Reports and Research on Payday Lending

Eisenberg-Guyot, Jerzy et al. From Payday Loans To Pawnshops: Fringe Banking, The Unbanked, And Health. March 2018.

POWER-PAC Illinois. Stopping the Debt Spiral. January 2018.

Metro Ideas Project. Fighting Predatory Lending in Tennessee: A Simple Strategy for Cities and Counties. January 2018.

Taylor, Kyra, Bailey, Leslie and Ni, Victoria W. Stretching The Envelope of Tribal Sovereign Immunity? An Investigation of the Relationships Between Online Payday Lenders and Native American Tribes. November 2017.

Black House, Bree. The Risks and Benefits of Tribal Payday Lending to Tribal Sovereign Immunity: Tribal Payday Lending Enterprises Are Immune Under a Proposed Universal Arm of the Tribe Test. May 2017.

Martin, Natalie and Mayer, Robert N. What Communities Can Do To Rein in Payday Lending: Strategies for Successful Local Ordinance Campaigns Through a Texas Lens. 2017.

Federal Deposit Insurance Corportation (FDIC) – Guidance on Supervisory Concerns and Expectations Regarding Deposit Advance Products,2013.

Montezemolo, Susannah,  State of Lending in America & its Impact on U.S. Households,September 2013.

PEW Charitable Trusts. Payday Lending in America: How Borrowers Choose and Repay Payday Loans, Overview and Key Findings. February 2013.

Martin, Natalie and Schwartz, Joshua. The Alliance Between Payday Lenders and Tribes: Are Both Tribal Sovereignty and Consumer Protection at Risk? 2012.

Prosperity Now. New Research Dispelling Payday Lending Myths. July 2012.

Longo, Ernesto A. and Martin, Natalie. High-Interest Loans and Class: Do Payday and Title Loans Really Serve the Middle Class?, January 2012.

GARY RIVLIN | Broke, USA: From Pawnshop to Poverty, Inc. – How the Working Poor Became Big Business.

For most people, the Great Crash of 2008 has meant troubling times. Not so for those in the flourishing poverty industry. These mercenary entrepreneurs have taken advantage of an era of deregulation to devise high-priced products to sell to the credit-hungry working poor, including the instant tax refund and the payday loan. In the process they’ve created an industry larger than the casino business and have proved that pawnbrokers and check cashers, if they dream big enough, can grow very rich off those with thin wallets.

Broke, USA is Gary Rivlin’s riveting report from the economic fringes. Timely, shocking, and powerful, it offers a much-needed look at why our country is in a financial mess and gives a voice to the millions of ordinary Americans left devastated in the wake of the economic collapse.

MEHRSA BARADARAN | How the Other Half Banks: Exclusion, Exploitation, and the Threat to Democracy

The United States has two separate banking systems today—one serving the well-to-do and another exploiting everyone else. How the Other Half Banks contributes to the growing conversation on American inequality by highlighting one of its prime causes: unequal credit. Mehrsa Baradaran examines how a significant portion of the population, deserted by banks, is forced to wander through a Wild West of payday lenders and check-cashing services to cover emergency expenses and pay for necessities—all thanks to deregulation that began in the 1970s and continues decades later…

Baradaran proposes a solution: reenlisting the U.S. Post Office in its historic function of providing bank services. The post office played an important but largely forgotten role in the creation of American democracy, and it could be deployed again to level the field of financial opportunity.

LISA SERVON | The Unbanking of America: How the New Middle Class Survives

An urgent and incisive exposé of our broken banking system–why Americans are fleeing traditional banks in growing numbers. 

Lisa Servon delivers provocative dispatches from inside a range of banking alternatives–from predatory to responsible–as new players rush in to do what banks once did. She works as a teller at RiteCheck, a check-cashing business in the South Bronx, and as a payday lender in Oakland, California, listening to the stories of the alternative bankers as well as their consumers. And she delivers fascinating, hopeful portraits of the entrepreneurs who are counting on a permanent “unbanking” of America–and designing systems to transform how nonwealthy Americans can gain the access and agency to their own money that they, especially, need.

JONATHAN MORDUCH & RACHEL SCHNEIDER | The Financial Diaries: How American Families Cope in a World of Uncertainty

What the financial diaries of working-class families reveal about economic stresses, why they happen, and what policies might reduce them.

In The Financial Diaries, Jonathan Morduch and Rachel Schneider draw on the groundbreaking U.S. Financial Diaries, which follow the lives of 235 low- and middle-income families as they navigate through a year. Through the Diaries, Morduch and Schneider challenge popular assumptions about how Americans earn, spend, borrow, and save―and they identify the true causes of distress and inequality for many working Americans.

Combining hard facts with personal stories, The Financial Diaries presents an unparalleled inside look at the economic stresses of today’s families and offers powerful, fresh ideas for solving them.

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