Chapter
The History of Payday Loans, Part 2
24:15 - 27:58 (03:43)
The Supreme Court ruled in 1978 that banks could extend loans to people in other states with different caps on interest rates. The episode also discusses the rise of a particularly gifted grifter in the payday loan industry.
Clips
The podcast explores the unsolved murders of three radio journalists in South Florida, with hints of a larger conspiracy at play.
24:15 - 25:29 (01:13)
Summary
The podcast explores the unsolved murders of three radio journalists in South Florida, with hints of a larger conspiracy at play.
ChapterThe History of Payday Loans, Part 2
EpisodeThe Payday Loan Industry Is Bastards All The Way Down
PodcastBehind the Bastards
Payday loans rose to normative interest rates of 200-500%, adding service fees to get around interest rate limits.
25:29 - 27:05 (01:36)
Summary
Payday loans rose to normative interest rates of 200-500%, adding service fees to get around interest rate limits. Scott Tucker was a prominent payday loan lender who took advantage of these high rates and was ultimately sentenced to 16 years in prison for his predatory practices.
ChapterThe History of Payday Loans, Part 2
EpisodeThe Payday Loan Industry Is Bastards All The Way Down
PodcastBehind the Bastards
The podcast discusses Scott Tucker's journey from being a scammer in the payday loan industry to a prisoner.
27:05 - 27:58 (00:52)
Summary
The podcast discusses Scott Tucker's journey from being a scammer in the payday loan industry to a prisoner. He made millions by exploiting people in need, but justice finally caught up with him.