Freakonomics Radio
Freakonomics Radio

Are Payday Loans Really as Evil as People Say?

April 6, 201649 min
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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