Small-Dollar Loans

Pew is working to find safe and transparent solutions to meet consumers’ immediate financial needs.

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Payday Lending in America

This series sheds light on the experience of borrowers. The research also details fundamental...

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  • Payday Loans — And How to Fix Them

    Research shows that payday loans suffer from three main problems: The loans have unaffordable payments, they fail to work as advertised, and they have excessively high prices. Read More

  • Online Lending and the Integrity of the Banking System

    Americans have lost millions of dollars to unscrupulous merchants and fraudsters who have abused the electronic payments system to gain access to consumers' accounts. In response, the U.S. Department of Justice and several other federal and state agencies have taken action to prevent mass market fraud against consumers. This article summarizes the unique problems associated with online payday... Read More

  • Payday Loans and Tax Time

    This infographic provides a snapshot of the impact of payday loans on borrowers. Payments are unaffordable for the budgets of most payday loan borrowers, and 1 in 6 has used a tax refund to eliminate payday loan debt. Similar to payday borrowers, 1 in 5 auto title loan borrowers reports using a tax refund to repay a title loan. Read More

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