Each year, nearly 12 million borrowers take out payday loans. Yet, only 14% can afford to repay what they owe without taking on more debt, according to a recent report from Pew Charitable Trusts.

Let's say you take out a $1,000 payday loan with a $15 fee per $100 borrowed. That means you'll owe $150 in fees alone, and you'll be expected to repay the full $1,000 principal plus that $150 ...

Payday loans are allowed in California and 34 other states — the rest prohibit them. An estimated 12 million Americans take out payday loans each year from websites and about 16,000 storefront ...

Online payday lending growth: The share of online payday loans grew in Alaska (from 55% to 57%) and California (from 25% to 49%) between 2019 and 2022. About the report ...

With sky-high APRs, payday loans can get expensive fast—here's what to know CNBC Select reviews the benefits and downsides to taking out a payday loan when you're low on cash.

You may think you'd never agree to payday loan terms in a million years. But a just-released Federal Reserve study found that almost half of us could not cover an emergency expense costing as ...

If you’ve taken out a payday loan the Better Business Bureau wants you to beware. According to a new report, victims of payday loan scams have lost close to half a million dollars in 2022. In ...

Payday loans are marketed as a fast fix for financial emergencies, offering quick cash — generally in amounts of $500 or less — to cover unexpected bills or expenses between paychecks.