State Payday Loan Reform

State Payday Loan Reform
Last Updated December 23, 2020

Pew’s research has found that when states do not implement standards around pricing and affordability, payday and auto title loans cost three to four times more than is necessary to have widespread access to this credit. State legislators who want a well-functioning market for small loans can establish strong but flexible safeguards to protect constituents, save them millions of dollars each year, and maintain access to credit. Pew has published recommendations for making small loans safer and more affordable, and regularly provides analysis and technical assistance to state policymakers.

States of Innovation: Small Loans, Large Cost
States of Innovation: Small Loans, Large Cost
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Small Loans, Large Cost

Episode 91

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Payday loans can help people facing an unexpected financial crunch—but can also bring unexpected problems.

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States of Innovation

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Agenda for America

A collection of resources to help federal, state, and local decision-makers set an achievable agenda for all Americans

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Data-driven policymaking is not just a tool for finding new solutions for emerging challenges, it makes government more effective and better able to serve the public interest. In the coming months, President Joe Biden and the 117th Congress will tackle a number of environmental, health, public safety, and fiscal and economic issues—nearly all of them complicated by the COVID-19 pandemic. To help solve specific, systemic problems in a nonpartisan fashion, Pew has compiled a series of briefings and recommendations based on our research, technical assistance, and advocacy work across America.