CFB Substack: Payday Loans Aren’t Loans
Our founder’s newsletter, the Consumer Finance Breakdown, has a new post. It dives into everything about Payday loans that you probably didn’t know, and why it’s important to know.
The newsletter’s next post, Payday Loans Aren’t Loans, dives into the history of payday lending, how different payday loans are structured today, and the math behind the industry’s absurd fees & interest rates. It wraps things up by shining a light on how the industry harms consumers & how more regulated products like traditional installment loans are better choices for Americans living paycheck-to-paycheck.
Here at Installmt, our mission is to reduce Americans’ reliance on predatory financial products like payday loans by helping better-regulated lenders extend credit to more borrowers. This post outlines just how predatory payday lending can be, and we are committed to helping consumers access better options.
You can find the full Substack at installmt.substack.com or in the footnotes of this page.