Auburn study: payday loan providers target African-American neighborhoods. Gallery: Payday Lenders Multiply Across The Birmingham Metro Region

Auburn study: payday loan providers target African-American neighborhoods. Gallery: Payday Lenders Multiply Across The Birmingham Metro Region

Gallery: Payday Lenders Multiply Across The Birmingham Metro Region

Alabama has more payday lenders per capita than all but four other states in the nation, relating to a brand new research from Auburn University.

Some view these types of services as predatory to low-income or greatly African-American areas, plus some towns in Alabama are managing them.

The analysis provides some gas for that argument: it discovered a dramatically good relationship between the sheer number of payday financing shops to your wide range of banking institutions and bank branches together with percentage associated with the populace this is certainly African-American. (more…)