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Why Do Pay Day Financial Institutions Input Local Market? Facts from Oregon

Why Do Pay Day Financial Institutions Input Local Market? Facts from Oregon

Abstract

This study evaluates payday loan providers’ entry ways within the county of Oregon so to choose variations in the nature of the profession and its link to old-fashioned financial institutions. The results of fixed-effects logit regressions claim that payday creditors got started to input segments previously becoming functioned by banks. Moreover, the existence of “incumbent rewards” in entrance actions might also has ramifications about the level of opposition in the field. Eventually, since paycheck creditors likewise get in parts with large Hispanic populations, it is likely that pay day loans express the only source of loan for several pieces associated with citizens.

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