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Learn: California’s Bad Attract Payday Lenders. California’s payday lenders are mainly based in bad areas with greater black colored and Latino populations and single moms.

Learn: California’s Bad Attract Payday Lenders. California’s payday lenders are mainly based in bad areas with greater black colored and Latino populations and single moms.

BAY AREA (CBS SF) — California’s payday lenders are mostly positioned in bad areas with greater black colored and Latino populations and mothers that are single.

Ca has nearly 2,000 payday financing storefronts and brand brand new research verifies that almost all are focused in low-income communities with bigger populations of solitary mothers also bigger black colored and Latino populations compared to statewide ratio.

It might appear apparent to a lot of people who you’re more likely to live next to a payday lending business, but research released this month by the California Department of Business Oversight, the government agency that oversees payday lending businesses and other financial service providers in California, now confirms the obvious if you live in a poorer neighborhood.