Posted inCalifornia Divide

Payday loans dropped during pandemic, but Californians are ‘not out of the woods’

A new report found a dramatic decrease in Californians’ reliance on payday loans as a direct result of pandemic-related government assistance, including unemployment benefits, rent relief, eviction moratoriums, stimulus checks and loan forbearance. But experts warn that use of payday loans is expected to rebound once government assistance ends.