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Payday lenders collected $2.4 billion in fees in one year, report finds

Texas accounted for more than half the fees with a total of $1.3 billion

February, 6th, 2025 By James R. Hood

Payday lenders took in $2.4 billion in fees from cash-strapped consumers in a single year, a report from the Center for Responsible Lending (CRL) finds.

In brief ...

Texas the largest offender: Texas accounted for over $1.3 billion in payday loan fees, more than half of the national total.

Fee increases: From 2021 to 2022, payday loan fees increased significantly in several states, including:

States with the highest payday loan fees: Texas, Florida, and California led the co...

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