Payday Lending: A Business Model that Encourages Chronic Borrowing

By M. Stegman, R. Faris. 2003

164 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/40bb2d57dc7039523f0d817fce038d968482fb0b

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Citations in the corpus

How Payday Credit Access Affects Overdrafts and Other Outcomes (2012, background): “Stegman and Faris (2003) find that past problems with debt collectors (along with bounced checks) are a primary driver of payday loan demand, so it will be interesting to see how complaints about debt collectors vary with payday loan supply; if payday credit access aggravates users debt problems,…”
The Democratization of Personal Consumer Loans? Determinants of Success in Online Peer-to-peer Lending Communities (2008, background): “Perhaps even more important, many borrowers in a P2P lending community would otherwise have to resort to going to a payday lender to obtain an unsecured loan, which prior research has shown to be extremely detrimental to consumers (e.g., Stegman and Faris 2003).”
Landscapes of Predation, Landscapes of Neglect: A Location Analysis of Payday Lenders and Banks (2003, background): “Pundits, politicians, consumer-advocacy groups, and other researchers have already forwarded numerous legislative suggestions for state and federal policy makers (see, e.g., Woodstock Institute 2000; PPI, AARP 2001; Stegman and Faris 2003), as has the payday-lending industry (NaCCA 1998).”
Payday Lenders: Heroes or Villains? (2011, unknown): “This gure is almost exactly in line with the California gure cited in Stegman and Faris (2003) and those obtained from the Attorney General by Graves and Peterson (2005).”
Classification situations: Life-chances in the neoliberal era (2013, unknown): “Their bottom line often depends on chronic borrowing (Stegman & Faris, 2003). preys on productive labor in a parasitic fashion: ‘‘Usury, just like trade, exploits a given mode of production, but does not create it; both relate to the mode of production from out-side’’ (Marx, 1981, p. 745).”
Payday Lending: Do the Costs Justify the Price? (2005, unknown): “As noted, the industry is consolidating, and five of the largest firms now trade on public exchanges; this development has increased the amount of firm-level information available and has induced private researchers to analyze the industry (Stephens [2004]).”