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How pay day loan regulation affects debtor behavior

How pay day loan regulation affects debtor behavior

Twelve million individuals within the U.S. borrow from payday loan providers annually. With original information from a payday that is online, Justin Tobias and Kevin Mumford used a novel technique to observe how pay day loan legislation affects debtor behavior.

“No one had looked over the result of cash advance policy and legislation after all. No one ended up being taking a look at the payday loans Missouri particular policies that states can fool around with and their prospective effects on borrowers,” claims Mumford, assistant teacher of economics. Continue reading