2011 AARP Survey Of Texans Age 18+ on Payday and Auto-Title Lender Issues
AARP’s Texas Office commissioned this survey to explore the views of Texans age 18+ on payday and auto-title lender issues. The data from this survey will help to AARP Texas to further support their mission to serve 50+ Texans.
Key findings include:
- Three-quarters of Texans 18+ oppose payday lenders charging up to 500% APR (Annual Percentage Rate).
- High interest rates were also opposed by over eight in ten Texans 18+ who identify themselves as Democrats (88%), Republicans (82%), or Independents (87%).
- Ninety percent of Texans 50+ oppose payday lenders charging up to 500% APR.
- Nine in ten AARP Texas members oppose payday lenders charging up to 500% APR.
- High interest rates were also opposed by over eight in ten Texans 18+ who identify themselves as Democrats (88%), Republicans (82%), or Independents (87%).
- Nearly two thirds (64%) of Texans 18+ support the licensing and regulation of payday lenders.
- Licensing and regulation for payday lenders was also supported by over half of Texans 18+ who identify themselves as Democrats (53%), Republicans (66%), or Independents (77%).
- At least 60% of Texans 50+ support licensing and regulations for payday lenders.
- Over six in ten (61%) AARP Texas members support licensing and regulation for payday lenders.
- Licensing and regulation for payday lenders was also supported by over half of Texans 18+ who identify themselves as Democrats (53%), Republicans (66%), or Independents (77%).
These results are based on a phone survey conducted between March 14, 2011 and March 16, 2011. A total of 600 Texans 18+ responded, with a sampling error of plus or minus 4 percent at a 95 percent confidence level. Survey responses were weighted to reflect the actual distribution of age and gender for the 18+ Texas population as released by American Community Survey in 2009. For more information, contact Aisha Bonner at 202-434-3531.