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.
1 reports consumer usage and default patterns for vehicle title installment
loans and payday installment loans.
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.
3 examines the impact of certain state laws on storefront payday lending.
4 compares the share of payday loans that are reborrowed across states with
varying limits on renewals and requirements for cooling-off periods between
5 provides findings on borrowing and default patterns for storefront payday
loans for three alternative definitions of the concept of a loan sequence.
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.