John Oliver on Why You Should Resort to ‘Anything Else’ Before Taking Out a Payday Loan
Payday loan providers have been around for 20 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. Watch John Oliver and comedian Sarah Silverman explain why you need to avoid them at all costs.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
Your support matters…Independent journalism is under threat and overshadowed by heavily funded mainstream media.
You can help level the playing field. Become a member.
Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.
Give today to support our courageous, independent journalists.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.