This digital document is an article from Trial, published by American Association for Justice on September 1, 2008. The length of the article is 5930 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.
Citation Details
Title: The poor still pay more: the small-loan industry preys on low-income Americans who often have no choice but to accept their outrageous payment terms. But this big business may be facing trouble.
Author: Ed Mierzwinski
Publication: Trial (Magazine/Journal)
Date: September 1, 2008
Publisher: American Association for Justice
Volume: 44 Issue: 9 Page: 40(8)
Distributed by Gale, a part of Cengage Learning
Excerpt. © Reprinted by permission. All rights reserved.
Forty-five years ago, the sociologist David Caplovitz wrote a ground-breaking Expose, The Poor Pay More, about low-income households in New York City. He revealed that poor inner-city families were kept in perpetual debt by having to pay excessive prices for basic necessities like food and housing and having few choices for buying other household items like furniture other than to purchase them "on time" at high interest rates from local mom-and-pop stores and neighborhood peddlers. (1)
