Payday Loans Provide Credit to People with Few Options

UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
Andrew C. Brod, Director, Center for Business & Economic Research (Creator)
Institution
The University of North Carolina at Greensboro (UNCG )
Web Site: http://library.uncg.edu/

Abstract: Payday loans are, for all practical purposes, no longer available in North Carolina. Earlier this month the last three payday lenders operating in the state (Check Into Cash, Check „n Go, and First American Cash Advance), agreed to stop offering the high-interest quick-cash loans. As part of their deal with Attorney General Roy Cooper, the three companies also agreed to pay $700,000 to fund credit-counseling programs.

Additional Information

Publication
Brod, Andrew (2006). Payday Loans Provide Credit to People with Few Options. Greensboro News & Record, March 26, 2006
Language: English
Date: 2006
Keywords
Payday loans, Consumer advocacy, Public policy, Credit, Economic impact