dining Table 1: data on Payday payday loans in Georgia Loans from CFPB (2020)
| APR | Loan Size | Duration (days) | costs per $100 | ||||
| Mean | Median | suggest | Median | suggest | Median | suggest | Median |
| 339% | 322% | $392 | $350 | 18.3 | 14 | $15 | $14.40 |
A split research by Pew (2012) further examines cash advance terms by identifying between (1) the 28 “permissive states” that enable fees including $15 to $20 per $100 loaned; (2) the 14 “restrictive states” that either prohibit payday lending or impose price caps “low enough to get rid of payday financing into the state” (frequently 36 %); and (3) the residual, reasonably restrictive states. The relevant results are shown in Table 2 in“permissive” states, which consist of 55 percent of the U.S. population.
dining dining Table 2: data on payday advances from Pew (2012)
| APR number (permissive states) | Mean charges per $100 (permissive states) | Mean loan size (all states) |
| 391 – 521% | $15 – 20 | $375 |
Individually, the guts for accountable Lending (2019) states a much wider variation in normal APRs across states that allow payday financing, including 200 and 680 %. 6
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