Therefore, payday lenders were forced to feed non-traditional financing at main-stream mortgage pricing

Therefore, payday lenders were forced to feed non-traditional financing at main-stream mortgage pricing

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ABSTRACT

Utilizing branch-level certification information for 13 shows, we determine cross-border outcomes of state-level payday-lending plans on brand-new and running limbs within line areas from January 2005 to December 2010. We hypothesize branch counts become larger in border counties next to says that limit payday lending through prohibitive cost limitations as a result of reduced competitors and better excess-profits from cross-border markets. Predicted outcomes for outcomes of making it possible for or non-existent payday financing rules were uncertain; cross-border markets might or might not have raised competition offered established markets tactics.