Newswise вЂ” As Congress debates financial regulatory reform and the federal government advocates for greater customer monetary security, a brand new research discovers a necessity for Congressional action on fringe banking methods utilized greatly by economically susceptible families.
The study circulated today details the cost on communities with a top concentration of payday financing company and discovers a definite relationship between the current presence of payday loan providers and community criminal activity prices. The research suggests that Congress do something to cap payday loan provider interest prices at 36 %, enacting for your country defenses Congress applied for U.S. military families. The brand new research, entitled вЂњDoes Fringe Banking Exacerbate Neighborhood Crime Rates? Personal Disorganization and also the Ecology of Payday Lending,вЂќ was conducted because of The George Washington University teachers Charis E. Kubrin and Gregory D. Squires, along side Dr. Steven M. Graves of California State University, Northridge. […]