Freakonomics Radio: Are Payday Loans Really as Evil as People Say?

Maybe. Data goes either way, and everybody doing a study seems to have a vested interest.

A deeper problem, notes Freakonomics: You need to have a job and a bank account to get a payday loan. Millions of people in the US have both jobs and bank accounts, and yet need to get loans at shockingly high interest rates just to make it from paycheck to paycheck. That’s wrong.

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