"$200 worth of groceries will end up costing me $550 due to the sky-high finance rate that came along with the loan."
“When banks charge higher and higher interest rates,” said Rep. Ocasio-Cortez, “essentially your credit card becomes a payday loan.”
Affordable banking is for the rich, and that's one reason it's so expensive to be anything else.
The Trump administration is helping payday lenders through weak law enforcement and deregulation.
It plans to explode a van filled with $1.3 million of payday loan debt.
The idea would provide a low-cost alternative to payday loans -- and it might just save the Postal Service, too.
'This is a social movement.'
WASHINGTON -- Facing the prospect of imminent oversight by a newly created government regulator, the much-reviled payday
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Some of the most important pathways to middle class American life become out of reach when one has little or no credit history. Buying a car or house, or sending a child to college can become close to impossible.