During the past year, the Consumer Financial Protection Bureau (CFPB) has engaged in an in-depth review of short-term small dollar loans, specifically payday loans extended by non-depository institutions and deposit advance products offered by a small, but growing, number of depository institutions to their deposit account customers. This book summarizes the initial findings of the CFPB’s analysis of payday loans and deposit advances. It describes the features of typical payday loan and deposit advance products; presents initial findings using supervisory data the CFPB has obtained from a number of institutions that provide these products; and presents the results of several analyses of consumers’ use of payday loans.