The Cost of Risk: A More Complete Understanding of Payday Lenders with Father Craig McMahon

Payday lenders have few friends in the financial world. But without them, people who are unbanked would lose access to cash for necessary expenses. In this episode of Inspiring Minds, Kelsea Wong ‘21 VSB talks with Father Craig McMahon, Assistant Professor, Economics, about the complicated realities of the payday loan market, including the viability of alternative lenders and the effects of economic crisis on borrowers and lenders.