Www.uwwashtenaw.org
A 2014 CFPB study found that four out of five payday loans are rolled over or renewed within 14 days (Burke et al. 2014). The CRL refers to this phenomenon as rollovers, renewal, or churn, and found that 75% of all payday loan volume is accounted for by churn, that is 59 million loans … ................
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