Cash advance team paid KSU for favorable research, documents reveal

Cash advance team paid KSU for favorable research, documents reveal

Georgia considers loans that are payday dangerous to borrowers that they’re prohibited within state lines. U.S. army officers testified before state lawmakers that the high interest, short-term paycheck improvements drown sailors and soldiers with debt. The U.S. Consumer Financial Protection Bureau, a federal consumer watchdog agency, planned a crackdown at one point.

Then when a Kennesaw State University research determined that borrowers whom sign up for a lengthy sequence of payday loans fare much better than those whom don’t, industry advocates tried it to fight down the prepared crackdown.