ECO372 Week 3 DQ#5

timer Asked: Sep 19th, 2013

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Week 3, DQ5: The "Fringe Economy"

Sociologist Howard Karger identifies the emergence of title loan businesses, payday lenders, tote-the-note car dealers, rent-to-own stores, mortgage lenders with dubious repayment terms, and similar financial operations as the "fringe economy". In his book Shortchanged: Life and Debt in the Fringe Economy (2006), he notes how excessively high interest rates and fees amount to predatory behavior toward middle class and poor families. 

Do you have experience with a predatory lender or know someone who does? Have the number of such operations been increasing or decreasing in your state?

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