Are Payday Loans Really as Evil as People Say?
Are Payday Loans Really as Evil as People Say?
WBEZ brings you fact-based news and information.
Sign up for our newsletters
to stay up to date on the stories that matter.
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?