Payday lenders, which advance customers money on their paychecks at rates of up to 500%, are migrating to more affluent neighborhoods. According to a recent Brookings Institution study, there were only a few hundred payday lenders in the U.S. in the 1990’s; now there are more than 23,000, with 37% located in zip codes where the median income is at least $48,000.


Pin It on Pinterest

Share This