How banks finance the predatory lending industry in minority communities

January 10, 2022 Pharaoh

Payday lenders and other businesses that offer high-cost, small-dollar loans say they serve customers that big, traditional banks ignore.

But a WFAA investigation discovered the money that finances many predatory lenders comes from the very same big banks.

It’s a part of a larger pattern of economic injustice for low-income communities of color south of Interstate 30, which is a dividing line in Dallas and the subject of the ongoing WFAA investigative series “Banking Below 30.”

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