; small loans ; consumer credit ; usury laws … lenders who could make small loans at interest rates exceeding those allowed for banks under the normal usury laws. About two …

Inefficiencies in mainstream credit markets have pushed selected households to frequent high cost payday loans for … rides on the public policy objective of expanding affordable credit to underbanked households. Here, we expound a simple … financiers. Conjointly, it addresses financial exclusion issues in mainstream credit markets …

-up on the product sale rather than the loan interest rate. Despite having little effect on who receives credit, usury limits … therefore have a substantial effect on who provides credit and on the terms of credit granted. Usury limits may harm defaulting … the organization of the loan market adjust to facilitate loans to risky borrowers. When usury restrictions bind …