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Article updated: 4/28/2013 7:35 AM

High-cost payday loans exploding

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The business of payday loans, pawn shops and other high-cost methods of financing has experienced tremendous growth over the past two decades, and in recent years, nearly one in four Americans have used them, according to a new paper from the National Bureau of Economic Research.

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The business of payday loans, pawn shops and other high-cost methods of financing has experienced tremendous growth over the past two decades, and in recent years, nearly one in four Americans have used them, according to a new paper from the National Bureau of Economic Research.
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