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From: wiiling2010
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From: Adam Broun
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Ohio Speaker Husted Calls Payday Loans a 'Defective Product'
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Fighting the debt trap of triple-digit interest rate payday loans
Payday loans are supposed to be a short-term quick fix for those who can't get traditional credit. But the loans are rarely actually short-term, and borrowers frequently need to take out a second loan to pay off the first. Special correspondent Andrew Schmertz reports from South Dakota, where some state lawmakers are trying to cap triple-digit interest rates that many struggle to pay.
From: PBS NewsHour
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