RALEIGH, N.C. — The North Carolina Commissioner of Banks has issued a report that says that North Carolinians have not missed payday lenders after the state deauthorized payday lending in 2001.
The study, titled North Carolina Consumers After Payday Lending, was conducted by the University of North Carolina's Center for Community Capital and found that most households have a variety of different tools to overcome short term financial shortfalls. The study also found that nine of out 10 low- and middle-income households surveyed considered payday lending a bad thing, even if they had experienced financial shortfalls.
"Hard-working North Carolinians have not missed payday lenders," said Mark Pierce, deputy commissioner of banks. "This study shows that people have many options to get through financial distress."
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