The Hidden Costs of Payday Lending

dc.creatorBaylor, Donen
dc.date.accessioned2012-02-14T17:50:25Zen
dc.date.available2012-02-14T17:50:25Zen
dc.date.issued2008-04en
dc.description.abstractPayday lending, sometimes known as a cash advance, is a small, short-term, high interest loan that is intended to bridge the borrower's cash flow gap between pay periods. Payday loans are secured by access to the individual's checking account, typically through a postdated check or an automated clearinghouse (ACH) authorization. Available at storefronts and via the Internet, these loans are generally due in about two weeks or on the borrower's next payday. This article examines the nearly $3 billion payday industry in Texas and offers an overview of its practices and impact on Texas communities while raising questions about the need for more state oversight and safeguards.en
dc.description.departmentIC2 Instituteen
dc.identifier.issn0040-4209en
dc.identifier.urihttp://hdl.handle.net/2152/14685en
dc.language.isoengen
dc.publisherBureau of Business Research, The University of Texas at Austinen
dc.relation.ispartofseriesTexas Business Review;en
dc.subjectTexasen
dc.subjectfinanceen
dc.subjectpayday lendingen
dc.titleThe Hidden Costs of Payday Lendingen
dc.typeJournalen

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