"A study released this year found that extreme temperature shocks – like #heatwaves and cold snaps – are leading to surges in demand for #PaydayLoans in the #US.
The paper suggests extreme heat and cold may increase demand for payday loans in several ways: increased energy costs as people turn on heating or cooling devices, lost income or people who are unable to work in #ExtremeHeat, and health problems leading to medical costs for underinsured or uninsured people."
Jolene Chateauneuf was just trying to avoid getting evicted.
It was 2021, and she was short $1,500 for the rent on her apartment in Princeton, B.C., where she was living at the time. So she took out a rapid loan from a payday-style lender and gave the money to her landlord.