In this paper, we make the most of two developments that are recent learn this concern. The initial may be the accessibility to a data that is new: the Federal Deposit Insurance CorporationвЂ™s (FDICвЂ™s) National Survey of Unbanked and Underbanked Households, a supplement to your Current populace Survey (CPS). The study is large and nationally representative and possesses detailed information regarding customersвЂ™ borrowing behavior. We augment this survey with information on conventional credit item usage through the Federal Reserve Bank of the latest York and Equifax. Second, amount of states have actually forbidden the employment of pay day loans in the past few years. Through a difference-in-differences that are simple, we exploit this policy variation to review the end result of alterations in customersвЂ™ access to payday advances between states as time passes.