Why the government must intervene to limit lending that is predatory
Back 2014, through the very very first period of their hit HBO show “Last Week Tonight,” John Oliver took from the payday loan industry. Boggled by loans that carried as much as a 1,900 percentage that is annual (APR), Oliver offered up a revised form of the “Lion King” theme track. “It’s the group of debt!” he sang. “And it screws us all.” Oliver explained that the outrages of this loan that is payday couldn’t be stopped because “they are extremely proficient at avoiding legislation.”