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Supplemental findings on payday, payday installment, and vehicle title loans, and deposit advance products

This report provides a variety of analyses on payday loans, payday installment loans, vehicle title loans, and deposit advance products. Each chapter of this report offers a discrete analysis of one or more of these products, as outlined below.

  • Chapter 1 reports consumer usage and default patterns for vehicle title installment loans and payday installment loans.
  • Chapter 2 analyzes whether consumers who used deposit advances overdrew their accounts or took out payday loans more frequently after banks stopped offering the deposit advance product. 
  • Chapter 3 examines the impact of certain state laws on storefront payday lending.
  • Chapter 4 compares the share of payday loans that are reborrowed across states with varying limits on renewals and requirements for cooling-off periods between loans.
  • Chapter 5 provides findings on borrowing and default patterns for storefront payday loans for three alternative definitions of the concept of a loan sequence.
  • Finally, Chapter 6 describes a series of simulations that estimate the effects of certain lending and collection restrictions on the payday, payday installment, and vehicle title loan markets. 
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