Payday loan providers have embraced installment loans to evade laws – nevertheless they might be a whole lot worse

Payday loan providers have embraced installment loans to evade laws – nevertheless they might be a whole lot worse

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Professor of Law, Vanderbilt University

Ph.D. Scholar in Law and Economics, Vanderbilt University

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Installment loans appear to be a kinder, gentler form of their “predatory” relative, the pay day loan. But also for customers, they may be a lot more harmful.

Utilization of the installment loan, by which a customer borrows a swelling amount and will pay straight right straight back the key and curiosity about a number of regular re re re payments, is continuing to grow considerably since 2013 as regulators started to rein in payday financing. Continue reading “Payday loan providers have embraced installment loans to evade laws – nevertheless they might be a whole lot worse”