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