In the U.S., payday lending (PL) is a $40 billion a year industry. A PL is a small-dollar loan -- from $100 to $500 and re-payable in about two weeks. Consumers can pay fees of $15-20 for every $100 borrowed. In 2006 the DoD reported on predatory lending, incl. PL, and found that these loans impacted military readiness and troop morale. Concerns were raised about PL to federal employees in law enforcement and national security positions at four components. This report examined: (1) how these federal law enforcement agencies become aware of employees who are potential security risks due to financial problems, including PL; and (2) various alternatives to PL. Charts and tables. This is a print on demand edition of an important, hard-to-find report.That is, payday lenders assume that their customers have low credit scores and cannot or choose not to take a loan ... of a payday loan were to be uncovered by an investigative interview with either the applicant or an applicanta#39;s reference, it is anbsp;...
|Title||:||Payday Lending: Federal Law Enforcement Uses a MultiLayered Approach to Identify Employees in Financial Distress|
|Author||:||Alicia Puente Cackley|
|Publisher||:||DIANE Publishing - 2011-04-01|