The Hidden Expenses Of Poverty: Check Cashing, Payday Lending, & Other Scams
The Financial Confessions
00:00
Payday Loans - Is This a Good Deal?
About 70% of payday loan borrowers are using this money to pay for legitimate, you know, needed essential expenses like food, utilities, transportation, rent. So it is regulated on some level, so each state actually has different laws regarding this. This is a grow, I still very much growing business. And there is incentivized as possible to push those boundaries. Some companies have gone so far as to align themselves with Native American tribes so they can skirt their state's laws.
Play episode from 36:13
Transcript
