Denton Record-Chronicle: Actual costs high for payday loans

March 16, 2013

A borrower who needs cash immediately, and knows payday is coming in the next two weeks, may think taking out a quick payday loan is a relatively harmless situation.  But a closer look shows that a payday loan rate is substantial and quite costly, according to Eric Sussman, a professor at the University of California at Los Angeles’ Anderson School of Management.  Read more here.