Pew’s research has found that when states do not implement standards around pricing and affordability, payday and auto title loans cost three to four times more than is necessary to have widespread access to this credit. State legislators who want a well-functioning market for small loans can establish strong but flexible safeguards to protect constituents, save them millions of dollars each year, and maintain access to credit. Pew has published recommendations for making small loans safer and more affordable, and regularly provides analysis and technical assistance to state policymakers.