Podcasts Culture Freakonomics Radio 241. Are Payday Loans Really as Evil as People Say?

241. Are Payday Loans Really as Evil as People Say?

Published: April 7, 2016, 3 a.m.

b"Critics -- including President Obama -- say short-term, high-interest loans are predatory, trapping borrowers in a cycle of debt. But some economists see them as a useful financial instrument for people who need them. As the Consumer Financial Protection Bureau promotes new regulation, we ask: who's right?"