New study looks at the impacts of payday loans

Payday loan companies are predatory and need to be shut down.That's what Dr. Laura Lamb thought about fringe financial institutions. They lend money to desperate people at an exaggerated rate of interest.Dr. Lamb is an economist and Thompson RiversUniversity professor.Along with two under-grad students,she set out to survey people who use Fringe Financing.She was surprised by what she learned.Laura lamb wasin our daybreak studio.

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