WASHINGTON—Pew Research Trusts has created a video on “How To Make Payday Loans Safe, Affordable.”
“Payday loans suffer from three main problems: unaffordable payments, failure to work as advertised, and excessively high process,” said Pew in releasing the video. “But the Consumer Financial Protection Bureau and state policymakers have an opportunity to fix these flaws and make small loans safer and more affordable.”
The video outlines Pew’s suggested strategies for doing just that.
To watch the video, go here.