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Exactly How cash advance regulation affects debtor behavior

Exactly How cash advance regulation affects debtor behavior

Twelve million individuals when you look at the U.S. borrow from payday loan providers yearly. With exclusive data from an on-line payday loan provider, Justin Tobias and Kevin Mumford utilized a novel technique to observe how pay day loan legislation impacts debtor behavior.

“No one had looked over the result of pay day loan policy and legislation at all. No one ended up being studying the specific policies that states can play with and their prospective effects on borrowers,” states Mumford, assistant teacher of economics.