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Predatory Lending: A Survey of High Interest Alternative Financial Service Users - ACORN Canada

Predatory Lending: A Survey of High Interest Alternative Financial Service Users

Resource Type: Fair Banking

This paper analyzes findings from a survey by ACORN Canada of a sampling of its membership to understand why they turn to alternative financial services such as high interest payday loans. The survey finds that the majority of the 268 respondents turn to high interest financial services such as payday loans as a last resort because they are denied adequate credit services from traditional banks.

Posted December 5, 2016

 

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Predatory Lending: A Survey of High Interest Alternative Financial Service Users

Predatory Lending: A Survey of High Interest Alternative Financial Service Users Download Resource