Chapter
The Problem with the Traditional Pay Cycle
00:55 - 05:01 (04:05)
The traditional pay cycle forces workers to wait weeks or months to get paid for their work. This causes financial strain and creates a need for short-term loans to bridge the gap.
Clips
Shereen Lana-Yunus discusses the payday loan industry with the host of "Oh No, Ross and Carrie!"
00:55 - 02:25 (01:29)
Summary
Shereen Lana-Yunus discusses the payday loan industry with the host of "Oh No, Ross and Carrie!" podcast. They both express their disgust towards the industry and reveal what they have learned about it.
ChapterThe Problem with the Traditional Pay Cycle
EpisodeThe Payday Loan Industry Is Bastards All The Way Down
PodcastBehind the Bastards
The speaker compares every episode of the show to an episode of the Magic School Bus, but with a drunk and abusive Ms. Frizzle.
02:25 - 03:08 (00:43)
Summary
The speaker compares every episode of the show to an episode of the Magic School Bus, but with a drunk and abusive Ms. Frizzle. They also discuss their newfound knowledge on a specific topic.
ChapterThe Problem with the Traditional Pay Cycle
EpisodeThe Payday Loan Industry Is Bastards All The Way Down
PodcastBehind the Bastards
In the late 1800s, bank accounts were not available for the average worker and paycheck advances were necessary to bridge the gap between pay cycles.
03:08 - 05:01 (01:52)
Summary
In the late 1800s, bank accounts were not available for the average worker and paycheck advances were necessary to bridge the gap between pay cycles. Workers would often run out of money due to unforeseen expenses, leading to the creation of paycheck advances.