Payday Loans
From Open Risk Manual
Revision as of 12:35, 12 November 2019 by Wiki admin (talk | contribs) (Created page with "== Definition == '''Payday Loan''' denotes a lending product of very short maturity that aims to cover borrower needs till their next paycheck == Issues and Challenges ==...")
Definition
Payday Loan denotes a lending product of very short maturity that aims to cover borrower needs till their next paycheck
Issues and Challenges
- Very short term consumer loans may be an indication of desperate borrowers who are financing basic needs such as food or shelter (see controversies around payday lending below)
