Abstract: “High-cost credit rating has proliferated into the previous two years, increasing scrutiny that is regulatory.

Abstract: “High-cost credit rating has proliferated into the previous two years, increasing scrutiny that is regulatory.

We match administrative information from a payday lender with nationally representative credit bureau files to look at the options of pay day loan candidates and assess whether pay day loans assist or harm borrowers. We find customers make an application for pay day loans if they don’t have a lot of access to main-stream credit. In addition, the weakness of payday candidates’ credit records is longstanding and severe. […]