Payday Pundit

A survey from the National Payroll Association found that 67% of Americans would have a difficult time meeting their current financial obligations if their next paycheck were to be delayed one week. 

Food for thought for policymakers who want to limit short-term credit options.  

If faced with unbudgeted expenses, consumers choose between not paying certain bills, borrowing from friends/family/church, taking a cash advance on a credit card, borrowing from a bank or credit union (if they’ll lend a few hundred bucks) or taking an advance from a payday lender.