Payday loans are high-interest short-term loans, usually over a period of two weeks. One recurring political question is whether or not interest rates on such

Payday loans are high-interest short-term loans, usually over a period of two weeks. One recurring political question is whether or not interest rates on such loans should be capped. Roughly speaking, those in favor of caps want to protect consumers from potentially harmful loans, while those against caps want to let the free market determine what the rate should be. Oliver, J. (2014). Predatory lending: Last week tonight with John Oliver. HBO. Retrieved from (Note: the above video contains a high usage of profanity, omit to view this video if you are offended by such language). Holland, J. (2016). Rapid City payday lender stops making loans due to new lower interest rates. Rapid City Journal. Retrieved from

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