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

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

Georgia considers loans that are payday 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 improvements 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 sign up for an extended sequence of payday loans fare a lot better than those who don’t, industry advocates tried it to battle down the prepared crackdown. (more…)