Payday Lending Case Study Essay
Hello Dianna,
Thank you for the presentation and presenting us with this great case study. I’ll begin with answering the questions you have raised then follow with my hypothesis for research questions that you have presented.
I believe that payday lenders have an amplified presence in my community. This leads me to answer your second question. I genuinely believe their presence is so extensive that these lending practices could be described as predatory lending due to the disadvantages they pose for my specific community. To place this into perspective. The Texas Tribune recently published an article which specified the Texas counties with the highest and lowest poverty rates. The geographic region I live in (South Texas: Counties; Zapata, Starr, Hidalgo, Cameron, Willacy) encompasses the five counties on this …show more content…
However, I define payday lending as (title loans (car), pawn broking, traditional payday loans) and can accurately hypothesize without any surveying of business that there is at least 15 of these business within a proximity of 5 miles in the city I live …show more content…
So I’m confident there are other lending practices that may be used in order to address this public issue. I refer to this as a public issue because proponents of this lending practice have argued that these types of business are needed in order to offset or makeup for the deficiencies in the economy, government, and social setting (i.e.: things that the aforementioned variables can’t provide: higher paying jobs, benefits, education, etc.). One option would be Personal Installment Loan – One alternative is a personal unsecured installment loan from a responsible lender such as a credit union, bank or other financial institution. According to the Center for Responsible Lending, in contrast to payday loans these products
Thank you for the presentation and presenting us with this great case study. I’ll begin with answering the questions you have raised then follow with my hypothesis for research questions that you have presented.
I believe that payday lenders have an amplified presence in my community. This leads me to answer your second question. I genuinely believe their presence is so extensive that these lending practices could be described as predatory lending due to the disadvantages they pose for my specific community. To place this into perspective. The Texas Tribune recently published an article which specified the Texas counties with the highest and lowest poverty rates. The geographic region I live in (South Texas: Counties; Zapata, Starr, Hidalgo, Cameron, Willacy) encompasses the five counties on this …show more content…
However, I define payday lending as (title loans (car), pawn broking, traditional payday loans) and can accurately hypothesize without any surveying of business that there is at least 15 of these business within a proximity of 5 miles in the city I live …show more content…
So I’m confident there are other lending practices that may be used in order to address this public issue. I refer to this as a public issue because proponents of this lending practice have argued that these types of business are needed in order to offset or makeup for the deficiencies in the economy, government, and social setting (i.e.: things that the aforementioned variables can’t provide: higher paying jobs, benefits, education, etc.). One option would be Personal Installment Loan – One alternative is a personal unsecured installment loan from a responsible lender such as a credit union, bank or other financial institution. According to the Center for Responsible Lending, in contrast to payday loans these products