LOANSHARKING IN AMERICA - AN EXPLORATORY STUDY

• NCJ Number: 32552
• Author(s): R R CANNING; J D CARDWELL; G W SMITH
• Date Published: 1971
• Length: 52 pages
• Grant Number(s): NI-71-152
• Sponsoring Agency: US Dept of Justice
• Sale Source: National Institute of Justice/
• Publication Type: Statistics
• Language: English
• Country: United States of America

Annotation

THIS INDIRECT SURVEY OF CONSUMERS OF LOANSHARKING SERVICES COVERED THE VOLUME OF MONEY BORROWED, THE TYPES AND FREQUENCY OF LOANS, THE INTEREST PAID, THE SOURCE OF THE LOAN, AND THE REASON FOR THE LOAN.

Abstract

THE INTERVIEW SAMPLE CONSISTED OF 1538 INDIVIDUALS WHO WERE PERSONALLY INTERVIEWED ON THIS SUBJECT VIA SEVEN QUESTIONS ON A FEBRAURY 1972 OMNIBUS SURVEY OF THE GALLUP ORGANIZATION. OF THE TOTAL, ONLY 141 PEOPLE HAD SECURED LOANS DURING THE THREE PREVIOUS MONTHS FROM OTHER THAN TRADITIONAL SOURCES (BANKS, CREDIT UNIONS, SAVINGS AND LOAN ASSOCIATIONS, ETC). DEMOGRAPHIC DATA ON THESE BORROWERS ARE ANALYZED IN A SERIES OF 25 TABLES. A DISTINCTION IS MADE BETWEEN THOSE DEFINITELY NOT INVOLVED WITH LOAN SHARKS (BORROWING FROM RELATIVES, NEIGHBORS, FREINDS, AND CO-WORKERS) AND SUSPECTED LOAN SHARK BORROWERS. THE PROBLEMS OF DATA ANALYSIS AND ESTIMATION OF TOTAL MONEY INVOLVED IN LOANSHARKING ARE ALSO DISCUSSED. THE APPENDIX CONTAINS A LIST OF REFERENCES AND A COPY OF THE LOAN SHARK QUESTIONNAIRE.