Let me make it clear about Federal legislation of pay day loans is obviously a victory for states’ liberties

Why the us government must intervene to limit predatory lending

Back 2014, through the very very first period of their hit HBO show “Last Week Tonight,” John Oliver took in the loan industry that is payday. 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 financial obligation!” he sang. “And it screws us all.” Oliver explained that the outrages regarding the loan that is payday could not be stopped because “they are extremely great at avoiding legislation.”

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