A longstanding human body of research demonstrates that payday advances are bad for many borrowers’ monetary health.

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A longstanding human body of research demonstrates that payday advances are bad for many borrowers’ monetary health. Payday borrowers disproportionately result from poor and minority communities. The teams utilizing the greatest likelihood of having utilized a payday loan include “those without having a four-year college education; house renters; African Americans; those making below $40,000 yearly; […]