1 Introduction

1 Introduction

Over 2 full decades since its emergence, payday lending continues to be a divisive subject for economists and policymakers.

No conscensus happens to be reached on whether usage of these high-cost, short-term balloon loans makes consumers best off or even even worse. Advocates point out situations where pay day loans seem to be an individual’s option that is best. By way of example, if unexpected medical expenses keep a household short on cash to pay for resources, a quick payday loan might be better than an electricity shutoff and eventual reconnect cost. Continue reading “1 Introduction”