Payday Lending in the usa: Who Borrows, Where They Borrow, and exactly why

Each 12 months, 12 million borrowers save money than $7 billion on payday advances. This report—the first in Pew’s Payday Lending in the usa series—answers major questions regarding whom borrowers are demographically; just exactly how individuals borrow; exactly how much they invest; why they normally use payday advances; how many other options they usually have; and whether state laws reduce …