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Payday loans and deposit advances products : a white paper of initial findings.
Connect to full text Available online
View online- Format:
- Book
- Government document
- Language:
- English
- Subjects (All):
- Payday loans--United States.
- Payday loans.
- Predatory lending--United States.
- Predatory lending.
- Loans, Personal--United States.
- Loans, Personal.
- Consumer protection--United States.
- Consumer protection.
- Consumer credit--United States.
- Consumer credit.
- United States.
- Physical Description:
- 1 online resource (45 pages) : illustrations
- Place of Publication:
- [Washington, D.C.] : Consumer Financial Protection Bureau, 2013.
- Summary:
- During the past year, the Consumer Financial Protection Bureau (CFPB) has engaged in an in depth review of short term small dollar loans, specifically payday loans extended by non depository institutions and deposit advance products offered by a small, but growing number of depository institution to their deposit account customers. This review began with a field hearing held in Birmingham, Alabama in January 2012. At that event, CFPB Director Richard Cordray noted that "the purpose of th[e] field hearing, and the purpose of all our research an analysis and outreach on these issues, is to help us figure out how to determine the right approach to protect consumers and ensure that they have access to a small loan market that is fair, transparent, and competitive." Director Cordray went on to state that "[t] hrough forums like this and through our supervision program, we will systematically gather data to get a complete picture of the payday market and its impact on consumers," including how consumers "are affected by long term use of these products."--Introduction.
- Notes:
- "April 24, 2013."
- Preserved in the OCLC Digital Archive. Harvested from http://files.consumerfinance.gov/f/201304_cfpb_payday-dap-whitepaper.pdf on December 11, 2014.
- Includes bibliographical references.
- Online resource; title from PDF title page (viewed on September 12, 2014).
- OCLC:
- 897473298
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