Payday Lending Draws Interest From Lawmakers
NPR’s David Greene takes a look at payday loans:
“We’re going to have a look now, at what’s known as payday loans. Depending on who you talk to they are either lifelines to people with a financial emergency or they’re predatory transactions that carry impossibly high interest rates.
Congress will be debating which description best fits as lawmakers finalize the language in the financial overhaul bill. Planet Money’s Alex Blumberg talked to two ordinary people who work inside the payday lending industry to find out what they think.”