Study: High-cost borrowing goes mainstream

04/29/2013 | Los Angeles Times (tiered subscription model)

Once relegated to the margins of society, high-cost borrowing in the form of payday, car-title or pawnshop loans has become part of everyday life, according to a study by the National Bureau of Economic Research. Approximately 1 in 4 Americans has used this form of financing, once seen as fringe behavior by a small part of the population, the study found.

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