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John Oliver on Why You Should Resort to 'Anything Else' Before Taking Out a Payday Loan

Payday loan providers have been around for twenty years or so, and in that time their growth rate has been exponential for one reason alone: The services they provide are a huge, undeniable, legal scam. With interest rates that far exceed the maximum rates most loan providers are allowed to charge, payday lenders skirt around regulations to charge up to 1,900 percent interest a year. As one person on the “Last Week Tonight” clip put it, it’s as though being a loan shark is legal in the U.S.

Watch John Oliver and comedian Sarah Silverman explain why you need to avoid them at all costs.

—Posted by Natasha Hakimi Zapata

Natasha Hakimi Zapata
Assistant Editor and Poetry Editor
Natasha Hakimi Zapata is currently a Ph.D. candidate in Latin American Literature at the Universidad Complutense de Madrid, Spain. She also holds a Creative Writing M.F.A. from Boston University and both a…
Natasha Hakimi Zapata

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