| You are here: | FRB Dallas Home > News and Events > Community Affairs Events > Payday Lending: Realities and Challenges | November 20, 2008 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Community Affairs EventsPayday Lending: Realities and Challenges Sponsored by Federal Reserve Bank of Dallas and IC2 Institute at The University of Texas at Austin The $59 billion payday lending industry is growing rapidly as a source of short-term consumer credit. Nineteen million U.S. consumers visit 24,000 payday lending outlets each year. This conference examines payday lending in America and its financial ramifications. Do payday lenders aid borrowers who need quick and convenient access to cash? Or do they entrap consumers by charging excessive rates and fees? This one-day conference that explored the dynamics of payday lending, from the economic and public policy framework to the evolving options for consumer credit. Nationally known experts discussed this complex topic from municipal, state, and national perspectives. Bankers, academics, students, policy makers, and community and economic development professionals who were interested in learning more about the emerging trends in the alternative financial services industry were invited to attend. Fast FactsWhen:
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