Information Disclosure, Cognitive Biases, and Payday Borrowing in america

A belief that payday loan providers prey regarding the financially illiterate has influenced strict legislation regarding the industry, however it is feasible that borrowers are completely informed in regards to the high charges connected with pay day loans and but still see them an option that is attractive. Scientists offered payday borrowers in the usa details about the genuine expenses of pay day loans in order to learn if they would react by changing their need for this product. Continue reading →