Chapter
The Dark Side of Payday Loans
1:00:26 - 1:07:12 (06:45)
The payday loan industry preys on desperate people who cannot obtain credit cards and keeps them trapped in a vicious cycle of debt, which is often more abusive than credit cards. This practice disproportionately affects black and Hispanic individuals who have limited financial options and are more likely to rely on cash-paying jobs.
Clips
Payday loans, which mainly serve black and Hispanic communities, are often the only option for those who cannot access credit cards due to their financial situation.
1:00:26 - 1:04:56 (04:29)
Summary
Payday loans, which mainly serve black and Hispanic communities, are often the only option for those who cannot access credit cards due to their financial situation. However, they charge exorbitant fees and can ultimately lead borrowers into a cycle of debt that is difficult to escape from.
ChapterThe Dark Side of Payday Loans
EpisodeThe Payday Loan Industry Is Bastards All The Way Down
PodcastBehind the Bastards
Payday loans are a vicious cycle for impoverished communities with marginalized populations that are systematically discriminated against, leading to reduced job performance and lower retention levels, according to studies.
1:04:56 - 1:07:12 (02:15)
Summary
Payday loans are a vicious cycle for impoverished communities with marginalized populations that are systematically discriminated against, leading to reduced job performance and lower retention levels, according to studies.