Pew studies financial products to understand how they can be made safer and more transparent. Pew’s research informs policy solutions to create more effective consumer protections.
The consumer banking initiative studies the accounts that Americans rely on every day to manage their finances, including checking accounts, prepaid cards, and mobile payments.
The small-dollar loans project focuses on small-dollar credit products such as payday and automobile title loans, as well as emerging alternatives.
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With their friendly sounding names, these might appear to be products that are helpful to consumers. And, in fact, these names were appropriate more than 20 years ago when banks first started covering consumer overdrafts—infrequently and on an ad hoc basis. But that’s not the case today. Research from The Pew Charitable Trusts over the past five years demonstrates the need to reform... Read More
Thanks to the Consumer Financial Protection Bureau (CFPB), conventional payday loans are on the decline. In response, lenders have begun to shift toward offering longer-term installment payday loans, which are safer but often also needlessly expensive. Read More