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Fraud and Abuse On The Web: Harmful Practices in Web Payday Lending

Fraud and Abuse On The Web: Harmful Practices in Web Payday Lending

Report shows borrowers encounter high costs, threats, unauthorized withdrawals, lost bank reports

FAST SUMMARY

This report, the 4th in Pew’s Payday Lending in America series, examines Internet-based loans that are payday discovers that lender techniques frequently have severe harmful results on customers. Payday loans online are far more costly compared to those provided through shops consequently they are made to market renewals and long-lasting indebtedness, and additionally they usually bring about unauthorized withdrawals, disclosure of private information, threats against borrowers, and customer complaints.
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