Payday Loans Help Keep Texans out of the Financial Mainstream
The documentary “Spent: Looking for Change” debuted online a few months ago and quickly garnered acclaim and nearly 10 million viewers. The film traces the challenges of four working families living on the edges of the financial mainstream. The four stories, two of which take place in Texas, each represent the obstacles faced by millions of working Americans who lack a bank account, have thin or damaged credit profiles, or use high-cost payday or auto title loans.
“Spent” tells the hard truth about our outdated financial services system that neglects or poorly serves close to half of the U.S. population and highlights the need for Texas and the nation to reform it through public policy and coordination with the nonprofit and private sectors.