Pay day loan team paid KSU for favorable research, documents reveal

Pay day loan team paid KSU for favorable research, documents reveal

Georgia considers pay day loans therefore dangerous to borrowers that they’re prohibited within state lines. U.S. armed forces officers testified before state lawmakers that the high interest, short-term paycheck advances drown sailors and soldiers with debt. The U.S. Consumer Financial Protection Bureau, a federal consumer watchdog agency, planned a crackdown at one point.

Then when a Kennesaw State University research figured borrowers whom remove a lengthy sequence of payday loans fare a lot better than those whom don’t, industry advocates tried it to fight down the prepared crackdown.

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