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Let me make it clear about How “payday” loan providers accomplish crippling prices

Let me make it clear about How “payday” loan providers accomplish crippling prices

OVERLAND PARK, Kan. – For Us citizens struggling in this economy, an advance for a paycheck could be a lifeline. These improvements – also called pay day loans – have grown to be a fast-growing online business, with almost $11 billion lent away final year.

The cash frequently is sold with crippling rates of interest, as CBS Information chief investigative correspondent Armen Keteyian discovered because of this report together with the Center for Public Integrity.