The Rising Use of Nonbank Credit among U.S. Households: 2009-2011 by Gregory B. Mills and William Monson, Urban Institute, July 17, 2013.

“Between January 2009 and June 2011, through the depths of the Great Recession and the initial sluggish recovery, the percentage of U.S. households that had ever used high-cost nonbank credit rose from 11.8 to 14.2 percent. This includes payday loans, pawnshop loans, rent-to-own agreements, and refund anticipation loans. The demographic composition of nonbank credit users also shifted, toward population segments normally considered economically advantaged: older, nonminority, more educated, married couples, and those with incomes above $50,000. Reflecting the broadly-based financial stress among households nationally, 45 percent of nonbank credit users needed such funds for basic living expenses versus unexpected needs.”