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BoolQ / is a payday lender a type of bank

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is a payday lender a type of bank
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The likelihood that a family will use a payday loan increases if they are unbanked or underbanked, or lack access to a traditional deposit bank account. In an American context the families who will use a payday loan are disproportionately either of black or Hispanic descent, recent immigrants, and/or under-educated. These individuals are least able to secure normal, lower-interest-rate forms of credit. Since payday lending operations charge higher interest-rates than traditional banks, they have the effect of depleting the assets of low-income communities. The Insight Center, a consumer advocacy group, reported in 2013 that payday lending cost U.S communities $774 million a year.

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task_id
17a14133-c5b5-5135-a5a4-e37ac0fc003c
task_key
default--validation--17a14133-c5b5-5135-a5a4-e37ac0fc003c
task_revision_id
1
config / split
default / validation

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