Predatory Lending In Lane County

Pay day loans are short-term, high rate of interest loans marketed to cash-strapped customers. Customers of these loans borrow on their next paycheck, typically for a phrase of 2 weeks, at a group charge. The payday lender encourages the consumer to pay more fees to “rollover” the loan to extend it for another short term, leading many consumers into a cycle of debt if the consumer is unable to repay the entire loan on the due date.

Throughout the previous ten years, payday financing has exploded from almost nothing to over 25,000 storefronts generally in most states around the world, including Oregon. Read More