Stricter state regulation of payday lenders slows use of the loans and doesn't drive borrowers to online or out of state, says the Pew Charitable Trusts in a new report unveiled Wednesday.

The report, "Payday Lending in America: Who Borrows, Where They Borrow, and Why," is based on an in-depth survey and focus groups with hundreds of payday borrowers around the country, conducted by Pew's Safe Small-Dollar Loan Research Project.

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