Auburn research: payday loan providers target African-American communities

Auburn research: payday loan providers target African-American communities

Payday Lenders Multiply Round The Birmingham Metro Region

Alabama has more payday lenders per capita than all but four other states in the nation, in accordance with a brand new study from Auburn University.

Some view these services as predatory to low-income or greatly African-American areas, plus some towns in Alabama are managing them.

The analysis provides some gas for that argument: it discovered a relationship that is significantly positive the amount of payday financing shops to your quantity of banking institutions and bank branches and also the portion for the populace this is certainly African-American.Continue reading