By Stephanie Zimmerman, November 26, 2021
Using 2019 borrower loan data obtained from state regulators, the nonprofit Woodstock Institute found the top ZIP codes for payday loans, excluding the Loop, were majority-Black…
Brent Adams, senior vice president of the Woodstock Institute and IDFPR director under former Gov. Pat Quinn, called it “statistical significance on steroids.”
“These loans very specifically target Black communities,” Adams says, adding that high-interest lending perpetuates a status quo “that is riddled with racial and economic inequities.”
Our data was also covered by Jeffrey McKinney in Black Enterprise on December 2.