6 Apr 2021 Ferado

Payday Lending could be the 104th Largest Economy in the whole world

The buyer Finance Protection Bureau cites numerous estimates from the measurements regarding the payday financing industry including $23.6 billion to $30 billion in brand brand brand new loans created per year. Let’s be conservative and employ the low end of this range: $23.6 billion, that is by having a money “B”illion.

To put that in perspective, the following is an example of 2015 GDPs as reported because of the World Bank:

Nationwide GDP 2015

Nation Rank GDP (an incredible number of U.S. bucks)
United States 1 $17,946,996
Switzerland 19 $664,738
Latvia 102 $27,035
Uganda 103 $26,396
Estonia 105 $22,691
Tuvalu 195 (last) $38

With a GDP of this size, payday financing could really be a unique kingdom. It will be the 104th economy that is largest on earth, significantly more than 91 other nations. Read More “Payday Lending could be the 104th Largest Economy in the whole world” »