Payday lenders in just 10 states collect 83 percent of all fees. Nationwide, there are 16,341 store locations; but only nine major operators control nearly 50 percent of these stores. Leading the list of states with the most payday lending activity are Texas and California followed by a host of Southern states including Alabama, Florida, Louisiana, Mississippi, and Tennessee.

In the area of bank payday lending, CRL found that:

•Bank payday borrowers are two times more likely to incur overdraft fees than are bank customers as a whole;

•More than one-quarter of bank payday borrowers are Social Security recipients; and

•Bank payday loans carry an annual percentage rate that averages 225-300 percent.

Clearly continued state and federal reforms are needed. For a nation that prides itself on freedom, predatory debt is simply un-American.

For more information on the new chapters, interested readers, CRL’s web at:

(Charlene Crowell is a communications manager with the Center for Responsible Lending. She can be reached at:


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