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A screen grab of an online lending site. (eTaxLoan.com)

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

Nov 13, 2013

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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.


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