New study looks at the impacts of payday loans - Action News
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Kamloops

New study looks at the impacts of payday loans

Do Payday Loans take advantage of desperate people? A TRU Economist studied the reality here in Kamloops. We heard her surprising conclusions.

A TRU Economist looked into whether payday loans take advantage of desperate people.

Laura Lamb teaches at Thompson Rivers University (Photo courtesy of TRU)

Payday loan companies are predatory and need to be shut down.That's what Dr. Laura Lamb thought about fringe financial institutions. They lend money to desperate people at an exaggerated rate of interest.Dr. Lamb is an economist and Thompson RiversUniversity professor.Along with two under-grad students,she set out to survey people who use Fringe Financing.She was surprised by what she learned.Laura lamb wasin our daybreak studio.

To hear more, click the link:New study looks at the impacts of payday loans