The federal customer Finance Protection Bureau reported in 2016 that 77 per cent of payday borrowers over the U.S. simply take down another loan within fourteen days of settling a past loan.

The federal customer Finance Protection Bureau reported in 2016 that 77 per cent of payday borrowers over the U.S. simply take down another loan within fourteen days of settling a past loan. That is whenever expenses accumulate quickly. For instance, it costs about...