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Episode 495: The Weird Inner Workings Of The Payday Loan Business

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Episode 495: The Weird Inner Workings Of The Payday Loan Business

Podcast

Episode 495: The Weird Inner Workings Of The Payday Loan Business

Episode 495: The Weird Inner Workings Of The Payday Loan Business

  • Download
  • <iframe src="https://www.npr.org/player/embed/245041673/245088147" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
A screen grab of an online lending site.
eTaxLoan.com

Payday lenders made about $49 billion in high-interest loans last year. More than forty percent of those loans were made online.

On today's show, we go looking for the people making these loans and find a bizarre online marketplace where people's personal financial information is bought and sold. Plus, we talk to state regulators about why it's so hard to police high interest lending happening online.

Music: Aloe Blacc's "I Need a Dollar." Find us: Twitter/Facebook/Spotify/Tumblr.