Thu 8 AM | The Ongoing Fight Over Payday Loans

22 hours ago

Barbara Ehrenreich observed in "Nickel and Dimed" that being poor costs you money.  Not having things like apartment deposits can consign you to more expensive motel living. 

Not having money and needing it NOW can send you in search of a loan with a very high interest rate.  Legislators and regulators have been working for years to reduce the frequency or at least the cost of the so-called "payday loans"... advances on wages that often vacuum up those wages when they actually arrive. 

The federal Consumer Financial Protection Bureau changed its tune on payday loans when the country changed presidents.  The Center for Responsible Lending noticed. 

CRL's Ezekiel Gorrocino visits with details of the current situation with payday loans.