241. Are Payday Loans Really as Evil as People Say?
Critics -- including President Obama -- say short-term, high-interest loans are predatory, trapping borrowers in a cycle of debt. But some economists see them as a useful financial instrument for people who need them. As the Consumer Financial Protection Bureau promotes new regulation, we ask: who's right?
Episode 241 of the Freakonomics Radio podcast, hosted by Freakonomics Radio + Stitcher, titled "241. Are Payday Loans Really as Evil as People Say?" was published on April 7, 2016 and runs 49 minutes.
April 7, 2016 ·49m · Freakonomics Radio
Summary
Critics -- including President Obama -- say short-term, high-interest loans are predatory, trapping borrowers in a cycle of debt. But some economists see them as a useful financial instrument for people who need them. As the Consumer Financial Protection Bureau promotes new regulation, we ask: who's right?
Episode Description
Critics -- including President Obama -- say short-term, high-interest loans are predatory, trapping borrowers in a cycle of debt. But some economists see them as a useful financial instrument for people who need them. As the Consumer Financial Protection Bureau promotes new regulation, we ask: who's right?
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