New reserch from the Center for Responsible Lending (CRL) finds that in just one year – 2022 – cash-strapped borrowers took out over 20 million predatory loans totaling nearly $8.6 billion. The triple-digit annual percentage rates (APRs) and high costs attached to these loans – whether payday, single-payment or installment loans – drained more than $2.4 billion in fees from low-income borrowers.