Payday loan
"$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.
WHAT'S HAPPENING
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.'