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Table of Contents
Intro; Foreword; Acknowledgments; Contents; Notes on Editors and Contributors; List of Figures; List of Tables; Chapter 1: Introduction; Overview of the Book; The Payday Loan Industry in Canada; The Payday Loan Product and Its Usage; Privacy Issues; Regulation of Payday Lending; A Roadmap to the Book; Survey of the Literature; Recent Studies and Their Sources; Industry Dynamics; Corporatization; Online Payday Lending; Unique Issues of Online Loans; Asymmetric Information; Costs Differ for Online Versus Storefront Loans; Online Lenders Less Likely to Follow Regulations.
Troublesome Consumer PracticesRepeating Online Loans; Do Payday Loans Benefit Consumers?; What Do Customers Think About Payday Loans?; Repeat Borrowing; The Situation in the United States; Why So Many Payday Loans?; Consumer Behavior and Literacy; Tunneling; Payday Loan Marketing; Financial Literacy; The Impact of Regulation on Payday Lending; Some New US Payday Loan Regulations; Payday Lender Costs; The Impact of Price Caps; Limiting the Amount of Borrowing; The Impact of General Payday Loan Restrictions; Where We Are Now; References.
Chapter 2: A Statistical Profile of Payday Loan Clients from National SurveysIntroduction; The Economic Factors; The Demographic Factors; Frequency of Borrowing and Repeat Borrowing; Regression Results; Conclusions; References; Chapter 3: A Socio-economic Examination of Payday Loan Clients: Why and How People Use Payday Loans; Introduction; Mixed Methods Analysis; Why and How Do People Use Payday Loans: Results from the Survey; Participant Characteristics and Use of Payday Lender Services; Why Use Payday Loans as Opposed to Another Type of Loan?; Payday Loan Fees; Repeat Borrowing.
Online BorrowingWhat Do People Think About Alternatives to Payday Loans: Results from the Focus Group Meeting; Frequency and Period of Use; Purpose for the Payday Loan; Why Payday Loans?; Participant Assessment of Payday and Other Loans; Interest Rates; Repayment Structure and Duration; Loan Size; Credit Reporting; Discussion; References; Chapter 4: A Business Analysis of the Payday Loan Industry; The Business of Payday Lending; The Players in Canada; Follow the Money: Where Does It Come From and Where Does It Go?; Loan Volume, Average Size of Loan, and Loan Losses.
The Internet Lending BusinessOther Borrowing Options in the Alternative Financial Services Sector; Check Cashing; Pawnbroking; Installment Loans; Rent to Own; What Rate Cap Should Canadian Regulators Set?; A Brief Look at the USA and UK Rate Caps; Analyzing Rate Caps for Canada; The Financial Effect of Loan Size Limits and Other Regulations; The Installment Option; Conclusion; Appendix 1: Segment Results of DFC Global Corp; Appendix 2: DFC Global Corp; Appendix 3: BC Aggregate Payday Loan Data; Appendix 4: US Payday Loan Data by State; References.
Troublesome Consumer PracticesRepeating Online Loans; Do Payday Loans Benefit Consumers?; What Do Customers Think About Payday Loans?; Repeat Borrowing; The Situation in the United States; Why So Many Payday Loans?; Consumer Behavior and Literacy; Tunneling; Payday Loan Marketing; Financial Literacy; The Impact of Regulation on Payday Lending; Some New US Payday Loan Regulations; Payday Lender Costs; The Impact of Price Caps; Limiting the Amount of Borrowing; The Impact of General Payday Loan Restrictions; Where We Are Now; References.
Chapter 2: A Statistical Profile of Payday Loan Clients from National SurveysIntroduction; The Economic Factors; The Demographic Factors; Frequency of Borrowing and Repeat Borrowing; Regression Results; Conclusions; References; Chapter 3: A Socio-economic Examination of Payday Loan Clients: Why and How People Use Payday Loans; Introduction; Mixed Methods Analysis; Why and How Do People Use Payday Loans: Results from the Survey; Participant Characteristics and Use of Payday Lender Services; Why Use Payday Loans as Opposed to Another Type of Loan?; Payday Loan Fees; Repeat Borrowing.
Online BorrowingWhat Do People Think About Alternatives to Payday Loans: Results from the Focus Group Meeting; Frequency and Period of Use; Purpose for the Payday Loan; Why Payday Loans?; Participant Assessment of Payday and Other Loans; Interest Rates; Repayment Structure and Duration; Loan Size; Credit Reporting; Discussion; References; Chapter 4: A Business Analysis of the Payday Loan Industry; The Business of Payday Lending; The Players in Canada; Follow the Money: Where Does It Come From and Where Does It Go?; Loan Volume, Average Size of Loan, and Loan Losses.
The Internet Lending BusinessOther Borrowing Options in the Alternative Financial Services Sector; Check Cashing; Pawnbroking; Installment Loans; Rent to Own; What Rate Cap Should Canadian Regulators Set?; A Brief Look at the USA and UK Rate Caps; Analyzing Rate Caps for Canada; The Financial Effect of Loan Size Limits and Other Regulations; The Installment Option; Conclusion; Appendix 1: Segment Results of DFC Global Corp; Appendix 2: DFC Global Corp; Appendix 3: BC Aggregate Payday Loan Data; Appendix 4: US Payday Loan Data by State; References.