Payday lending. Why is this legal?
Bob Morris @ Jun 29th 2008 00:30 - Category: Unfiled Tags: payday lending;
From Naked Capitalism.
I was recently on an NPR show on consumer debt, and a caller said his uncle, a former loan shark who did 15 years in prison, was mystified by payday lending, particularly since he had charged only 17%.
Tip: John Robb’s Weblog.
