For Fact’s Sake: Payday Loans Are Extremely Costly | Velshi & Ruhle | MSNBC


>>>WELCOME BACK, IN A POTENTIAL>>>WELCOME BACK, IN A POTENTIAL WIN FOR THE WORST INDUSTRY IN MY WIN FOR THE WORST INDUSTRY IN MY OPINION, PAYDAY LENDING, IT IS OPINION, PAYDAY LENDING, IT IS LIKE LOAN SHARKING. LIKE LOAN SHARKING. THE PRESIDENT’S PICK TO HEAD THE THE PRESIDENT’S PICK TO HEAD THE CONSUMER FINANCIAL BUREAU HAS CONSUMER FINANCIAL BUREAU HAS PROPOSED ELIMINATING RULES THAT PROPOSED ELIMINATING RULES THAT ELIMINATE THE NUMBER OF ELIMINATE THE NUMBER OF BACK-TO-BACK LOANS THAT CAN BE BACK-TO-BACK LOANS THAT CAN BE MADE. MADE. NOW, SHE WANTS TO REQUIRE NOW, SHE WANTS TO REQUIRE LENDERS TO VERIFY THAT THE BAR LENDERS TO VERIFY THAT THE BAR WORK CAN EVEN REPAY THE LOAN ON WORK CAN EVEN REPAY THE LOAN ON TIME WHILE COVERING LIVING TIME WHILE COVERING LIVING EXPENSES. EXPENSES. FOR FACT-S SAKE, IT IS IMPORTANT FOR FACT-S SAKE, IT IS IMPORTANT TO UNDERSTAND WHAT THESE LOANS TO UNDERSTAND WHAT THESE LOANS ARE AND THE MASSIVE RISK THEY ARE AND THE MASSIVE RISK THEY POSE. POSE. PLEASE WATCH THIS. PLEASE WATCH THIS.>>PAYDAY LENDING MARKETED AS A>>PAYDAY LENDING MARKETED AS A CONVENIENT WAY FOR MILLIONS OF CONVENIENT WAY FOR MILLIONS OF POOR AMERICANS WITH NO CREDIT TO POOR AMERICANS WITH NO CREDIT TO GET A SMALL LOAN, AS LONG AS YOU GET A SMALL LOAN, AS LONG AS YOU HAVE A JOB AND A BANK ACCOUNT. HAVE A JOB AND A BANK ACCOUNT. FOR EVERY 1$100 YOU WANT, YOU CA FOR EVERY 1$100 YOU WANT, YOU CA TAKE OUT A TWO-WEEK LOAN. TAKE OUT A TWO-WEEK LOAN. ALMOST LIKE AN ADVANCE ON YOUR ALMOST LIKE AN ADVANCE ON YOUR NEXT PAYCHECK. NEXT PAYCHECK. SEVEN OUT OF TEN BORROWERS USE SEVEN OUT OF TEN BORROWERS USE PA PA PAYDAY LOANS TO FINANCE PAYDAY LOANS TO FINANCE EXPENSESMENT PAYDAY LENDERS MAKE EXPENSESMENT PAYDAY LENDERS MAKE SHEER MONEY OF REPEAT BORROWING SHEER MONEY OF REPEAT BORROWING AT LOAN SHARK RATES ADDING 400% AT LOAN SHARK RATES ADDING 400% ANNUALLY. ANNUALLY. SOME IS AS HIGH AS 950%. SOME IS AS HIGH AS 950%. THAT WOULD MEAN SOMEONE TAKING THAT WOULD MEAN SOMEONE TAKING OUT A $300 LOAN COULD END UP OUT A $300 LOAN COULD END UP PAYING 2,850 BUCKS IN FEE ALONE. PAYING 2,850 BUCKS IN FEE ALONE. WHY IS THIS HAPPENING? WHY IS THIS HAPPENING? FIRST, PAYDAY LENDER SAY THEY FIRST, PAYDAY LENDER SAY THEY NEED TO CHARGE THEIR CUSTOMERS NEED TO CHARGE THEIR CUSTOMERS SUPER HIGH RATES BECAUSE THEY SUPER HIGH RATES BECAUSE THEY CARRY SUPER HIGH RISK OF CARRY SUPER HIGH RISK OF DEFAULTS. DEFAULTS. BORROWERS THEY’RE EXPECTED TO BORROWERS THEY’RE EXPECTED TO PAY THE TOTAL AMOUNT THEY OWE PAY THE TOTAL AMOUNT THEY OWE WITHIN A PERIOD OF WEEKS. WITHIN A PERIOD OF WEEKS. A WHOPPING 80% OF BORROWERS A WHOPPING 80% OF BORROWERS CAN’T AFFORD TO MAKE FULL LUMP CAN’T AFFORD TO MAKE FULL LUMP SUM PAYMENT. SUM PAYMENT. IT IS NO WONDER ALMOST 12 IT IS NO WONDER ALMOST 12 MILLION AMERICANS TAKE KING OUT MILLION AMERICANS TAKE KING OUT PAYDAY LOAN EACH YEAR WOUND UP PAYDAY LOAN EACH YEAR WOUND UP SPENDING. SPENDING. PAYDAY LENDERS INSIST THEY DO PAYDAY LENDERS INSIST THEY DO NOT MARKET THEIR PRODUCT AS NOT MARKET THEIR PRODUCT AS LONG-TERM FINANCIAL SOLUTIONS. LONG-TERM FINANCIAL SOLUTIONS. NONE OF WHICH COUNTS AS PAYMENTS NONE OF WHICH COUNTS AS PAYMENTS TOWARDS THEIR UNDER LINING TOWARDS THEIR UNDER LINING LOANS. LOANS. CRITICS SAY THAT KIND OF CRITICS SAY THAT KIND OF BUSINESS MODELS FUELS A CYCLE OF BUSINESS MODELS FUELS A CYCLE OF LOANS AND MORE DEBT. LOANS AND MORE DEBT. WHICH IS KIND OF A POINT. WHICH IS KIND OF A POINT. IT SHOULD COME NO SURPRISE THAT IT SHOULD COME NO SURPRISE THAT 15 STATES ALREADY BANNED HIGH 15 STATES ALREADY BANNED HIGH COST PAYDAY LENDING. COST PAYDAY LENDING. WHY THIS PREDATORY PRACTICE IS WHY THIS PREDATORY PRACTICE IS NOT A HIGH PRIORITY FOR THE NOT A HIGH PRIORITY FOR THE TRUMP ADMINISTRATION IS ANYONE’S TRUMP ADMINISTRATION IS ANYONE’S GUEST. GUEST. GUESS. GUESS.>>I WANT TO MAKE IT CLEAR, THE>>I WANT TO MAKE IT CLEAR, THE NEW HEAD, I INVITE YOU TO HAVE A NEW HEAD, I INVITE YOU TO HAVE A CONVERSATION WITH ME. CONVERSATION WITH ME. WHY ARE YOU DOING THIS? WHY ARE YOU DOING THIS?>>JOINING ME NOW, BUSINESS>>JOINING ME NOW, BUSINESS PROFESSOR, MY DEAR FRIEND, SCOTT PROFESSOR, MY DEAR FRIEND, SCOTT GALLOWAY. GALLOWAY.>>THESE BLOW BACKS, THESE BLOW>>THESE BLOW BACKS, THESE BLOW MY MIND. MY MIND. PAYDAY LENDING IS THE MOST PAYDAY LENDING IS THE MOST PREDATORY LENDING TO THE MOST PREDATORY LENDING TO THE MOST VULNERABLE BORROWERS. VULNERABLE BORROWERS.>>SO I WILL GIVE YOU THE>>SO I WILL GIVE YOU THE RATIONAL OR I WILL GIVE YOU THE RATIONAL OR I WILL GIVE YOU THE TALK TRACK, THE TALK TRACK IS IF TALK TRACK, THE TALK TRACK IS IF YOU UNLEASH THIS INDUSTRY FROM YOU UNLEASH THIS INDUSTRY FROM REGULATIONS THAT’LL TRACK MORE REGULATIONS THAT’LL TRACK MORE PLAYERS IN THE INVISIBLE HAND OF PLAYERS IN THE INVISIBLE HAND OF COMPETITION WILL BRING DOWN COMPETITION WILL BRING DOWN RATES AND OFFERING MORE PRODUCTS RATES AND OFFERING MORE PRODUCTS TO THEM. TO THEM.>>THAT WAS NOT THE CASE BEFORE>>THAT WAS NOT THE CASE BEFORE THE FINANCIAL CRISIS. THE FINANCIAL CRISIS. THESE GUYS WERE THE DEFINITION THESE GUYS WERE THE DEFINITION OF LOAN SHARKS BEFORE THEY HAD OF LOAN SHARKS BEFORE THEY HAD THE REGULATION, THEY WERE NOT THE REGULATION, THEY WERE NOT ANY BETTER, THEY WERE HORRIBLE. ANY BETTER, THEY WERE HORRIBLE. THAT’S WHY WE GOT THE REGULATION THAT’S WHY WE GOT THE REGULATION IN RESPONSE OF THEIR PRACTICES. IN RESPONSE OF THEIR PRACTICES.>>LET ME BE CLEAR, I BELIEVE>>LET ME BE CLEAR, I BELIEVE THIS IS A FALSE NARRATIVE AND THIS IS A FALSE NARRATIVE AND THERE IS A LOT OF EVIDENCE THERE IS A LOT OF EVIDENCE SHOWING IT IS A FALSE NARRATIVE. SHOWING IT IS A FALSE NARRATIVE. ONE NUMBER STOOD OUT AND BEFORE ONE NUMBER STOOD OUT AND BEFORE WE BEGAN TALKING IS THE ANNUAL WE BEGAN TALKING IS THE ANNUAL INTEREST RATE IS 400%. INTEREST RATE IS 400%. WE ARE TALKING ABOUT THE MOST WE ARE TALKING ABOUT THE MOST ECONOMICALLY DISADVANTAGE ECONOMICALLY DISADVANTAGE COHEARTHCO COHEARTHCO COHEART IN AMERICA. COHEART IN AMERICA. THAT’S JEFF BEZOSES,, WHEN HE NE THAT’S JEFF BEZOSES,, WHEN HE NE TO BORROW MONEY, HE BORROWS AT TO BORROW MONEY, HE BORROWS AT AN INTEREST RATE AT SOME WHERE AN INTEREST RATE AT SOME WHERE AT 2% OR 2.5%. AT 2% OR 2.5%. PEOPLE WHO ARE IN A TOUGH SPOT PEOPLE WHO ARE IN A TOUGH SPOT AND CAN’T MAKE THEIR RENT ARE AND CAN’T MAKE THEIR RENT ARE BEING CHARGED 400% A YEAR? BEING CHARGED 400% A YEAR? THE POINT OF REGULATION IS TO THE POINT OF REGULATION IS TO PROTECT THE GOVERNMENT, NOT THE PROTECT THE GOVERNMENT, NOT THE GOVERNOR. GOVERNOR. WE HAVE PAY FOR PLAY, ALL THESE WE HAVE PAY FOR PLAY, ALL THESE PEOPLE POINTING THE REGULATIONS PEOPLE POINTING THE REGULATIONS OUT ARE GETTING MONEY. OUT ARE GETTING MONEY. TRADE ASSOCIATION THAT TRADE ASSOCIATION THAT REPRESENTS THIS GROUP GAVE MONEY REPRESENTS THIS GROUP GAVE MONEY TO THE INAUGURAL CAMPAIGN AND TO THE INAUGURAL CAMPAIGN AND HELD THEIR ANNUAL MEETING, GET HELD THEIR ANNUAL MEETING, GET THIS, STEPHANIE, IF THE TRUMP THIS, STEPHANIE, IF THE TRUMP COUNTRY CLUMP. COUNTRY CLUMP.>>COREY LEWANDOWSKI HAD BEEN>>COREY LEWANDOWSKI HAD BEEN WORKING WITH SOME OF THESE PAYS WORKING WITH SOME OF THESE PAYS AS WELL. AS WELL. IF JEFF BEZOS ONLY HAVE TO PAY 2 IF JEFF BEZOS ONLY HAVE TO PAY 2 OR 2.5%. OR 2.5%. AND SOMEBODY GOES TO A PAY AND SOMEBODY GOES TO A PAY LENDER AND BORROWS 300 BUCKS AND LENDER AND BORROWS 300 BUCKS AND ENDS UP PAYING $2,850. ENDS UP PAYING $2,850. THESE ARE RISKIER BORROWERS. THESE ARE RISKIER BORROWERS. THAT’S ONE OF THE REASONS THAT’S ONE OF THE REASONS THEY’RE IN THIS POSITION. THEY’RE IN THIS POSITION. WHERE IS THE MEAN? WHERE IS THE MEAN?>>THAT’S A FAIR QUESTION.>>THAT’S A FAIR QUESTION. WHAT WE DECIDED IS AS A WHAT WE DECIDED IS AS A GOVERNMENT, IT IS FOCUSED ON GOVERNMENT, IT IS FOCUSED ON ENSURING THAT WE DON’T HAVE USER ENSURING THAT WE DON’T HAVE USER INTEREST RATES, THE GOVERNMENT INTEREST RATES, THE GOVERNMENT STEPS IN. STEPS IN. MAYBE YOU CAN CHARGE 15 OR 20% MAYBE YOU CAN CHARGE 15 OR 20% OR MAYBE 30%. OR MAYBE 30%. BUT, WHEN YOU INTOXICATE PEOPLE BUT, WHEN YOU INTOXICATE PEOPLE OR GET THEM IN THIS AND PUT THEM OR GET THEM IN THIS AND PUT THEM ON A PATH OF THIS DOWNWARD ON A PATH OF THIS DOWNWARD SPIRAL WHERE THEY EFFECTIVELY SPIRAL WHERE THEY EFFECTIVELY END UP EVERY COUPLE OF WEEKS END UP EVERY COUPLE OF WEEKS SPENDING MORE AND MORE OF THEIR SPENDING MORE AND MORE OF THEIR PAYCHECK ON JUST INTERESTS. PAYCHECK ON JUST INTERESTS. YOU HAVE SOMETHING THAT’S YOU HAVE SOMETHING THAT’S RUINING PEOPLE’S LIVES. RUINING PEOPLE’S LIVES. THE IDEA OF GOVERNMENT THE IDEA OF GOVERNMENT INTERVENTION AND REGULATION HERE INTERVENTION AND REGULATION HERE MAKES A LOT OF SENSE. MAKES A LOT OF SENSE. YOU ARE ABSOLUTELY RIGHT, SHOULD YOU ARE ABSOLUTELY RIGHT, SHOULD THESE PEOPLE BE ABLE TO BORROW THESE PEOPLE BE ABLE TO BORROW AT 2%? AT 2%?>>NO.>>NO. THERE IS A LOT OF GROUND TO THERE IS A LOT OF GROUND TO COVER BETWEEN 2% THAN 400%. COVER BETWEEN 2% THAN 400%.>>REMEMBER, REGULATION IS NOT>>REMEMBER, REGULATION IS NOT HERE TO STOP BUSINESS. HERE TO STOP BUSINESS. SMART REGULATION IS PUT IN PLACE SMART REGULATION IS PUT IN PLACE SO GOOD BUSINESS CAN MOVE SO GOOD BUSINESS CAN MOVE FORWARD AND SO CIVILIANS WON’T

75 comments on “For Fact’s Sake: Payday Loans Are Extremely Costly | Velshi & Ruhle | MSNBC”

  1. Masson H says:

    TRUMP is NOT fighting for poor American consumers!

    The sad thing is they mostly voted for him … not realizing he’s actually fighting for the RICH

  2. She's my President says:

    if people are not loaned money they cant start businesses .. I think I will get a pay day loan to pay for my undercover investigation into MSNBCannibalism at the BORDER .. #sAVETHEcHILDREN

  3. Orange man bad says:

    Greed at it's finest🤑
    The tax cuts jobs act is a scam!

  4. Daisy Elmir says:

    If Trump recommends a person you can be assured that he or she is as crooked as he is. 🌼

  5. Dittzx says:

    Tic tac, tic tac.. Keep working, keep paying us, keep up paying us, and don't forget to keep working so y'all keep..Tic tac.

  6. Alessia C***** says:

    Not hurting trump and his administration but the American people can thank him for screwing everyone over.

  7. catalinacurio says:

    This is insane! The only people who use these lenders are desperate, so the lenders can run riot with the interest rates leading to a rise in children living in poverty and homelessness! Vicious!

  8. Knull & Void says:

    Lets get that interest rate over 1000%!

  9. Brother Sanguinary says:

    Payday loans prey mostly on lower class, uneducated blue collar workers. So, Trump is screwing his base. Again.

  10. gary the great says:

    most of all they at the front gate at military bases.

  11. Leroy Lowe says:

    Funny how Jesus said not charge interest on loans…

  12. Michael Kahr says:

    This kind of con loans is in the con man's spirit. He loves such schemes. The snake oil salesman elected President and ….bankrupting the country.

  13. I. M. says:

    I petitioned to get the payday loan interest rate lowered in Colorado. I met a guy who took a job at a payday loan place in Colorado Springs, CO. He needed a job and had no clue what it really was. He quit after three months. He told me they charged 538% interest. He quit the day a military wife fell on the floor sobbing. He just could not stand to see the human suffering his job was causing.
    These loan places need to be outlawed.
    Even Dave Ramsay says they are horrible.

  14. KING TRUMP says:

    For facts sake….from Mslsd….now that's funny.
    MORE FAKE NEWS FROM THE OWNERS OF BUZZFEED.

  15. ruth depew says:

    Don the Con never met a scam he did not love.

  16. Frankenstein says:

    America means legalized corruption. The second American revolution is needed now.

  17. Sunny CyclingSailing says:

    This would be a better video without the 'muisc' (horrible noise in the foreground).

  18. Junior Harry says:

    Hi Steph🐞.👋.
    Exceptional reporting, Steph.👍👏👏👏👏👏👏👏👏👏.
    Keep on digging, Steph.👍.
    👉👉Patience democrats, patience.👍.
    Payday loan company are legal loan sharks, con artists, crooks and thieves.👍.

  19. Christopher says:

    Kickback's for rolling back these laws. It;s Simple, corruption has engulfed this administration. They best be careful or they just might wind up in jail cell like there Daddy. lol.

  20. userunknownx says:

    Banks are hiding behind States that do not impose strict rate caps on charge cards. They raise rates and hide it fine print on an E-statement. It used to be a federal mandate of a full disclosure letter and the rates changed only if you continued to use the card.
    This just means more bankruptcies, lawsuits and wage garnishments. Current interest rates were considered usury not so long ago, and are much higher than the inflation rate.

  21. south florida news now says:

    Just another way that Trump and his f**** crooked Rich politicians cronies want to sit there and steal money for the middle class and lower class just f**** piece of s*** present I can't f**** take it no more this m********* has to f**** go impeach him now just for this a f**** fence though he doesn't care about the people that are f**** building the United States only cares about sticking making more money for his f**** Rich donors and his f**** b***** I hope he f**** go to jail for f**** life and his f**** kids and his grand kids and your grandkids grandkids when a f**** graduate blocked every f**** pushing me Trump up

  22. forty two says:

    If you receive S.S.I. The money is put in your bank account every month at a set date. Payday lenders ask to be able to withdraw their money the same day. Where’s the risk in that? There’s no risk. It’s guaranteed. Still, they charge fees that would embarrass a loan shark.

  23. kulhuk 7 says:

    This roll back is gonna hurt MAGA supporters the most. Poetic justice.

  24. sir robert says:

    legal loan sharks. out law them all

  25. Virginia Moss says:

    You didn't make the full case for why government should step in! What's the domino effect when that borrower spirals down to homelessness and/or they go on welfare and all the other government programs we all pay for? And/or they turn to crime, to selling drugs, to stealing? That costs us all even more in law enforcement and the judicial system and prisons, not to mention what is costs the victims of crime. All so a few "business owners" can rake in the dough that goes to bribe government to stop regulating them. Extrapolate this to all other businesses and corporations in America and we have a hugely corrupt system. Now what? There is a reason for and a place for regulation, not only to protect our citizens, but also to maintain a level playing field for business. Let's make this happen.

  26. Yo-yos Tenbucks says:

    MSNBC TRUMP SLANDERING VIDEO#14179.
    Another pile of serpent malicious intent

  27. madboyreadynow28 says:

    This is an attack on African Americans and Latino people who use these loans as a form of help. I am sure many federal employees were forced to use payday loans to pay their bills. This is an attack on minorities and working class Americans in this country often working several jobs to pay the bills and coming up short.

  28. Tony Hill says:

    The whole concept of a Billionaire being for the working class is ludicrous. Trump is a liar and he lied to you about how he was for the working men and women of America. Your first clue should have been the tax breaks for the wealthy under the guise that they would re-invest back into their work-force in the form of a pay rise or that they would re-invest in American jobs. None of these things occurred, what did happen was they bought back shares in their companies and the shareholders got rich and the workers well they got screwed…who knew?

  29. sir robert says:

    funny Democrats didn't out law these loan sharks. when they had both houses

  30. Sumumma Bish says:

    HEY STUPID… just stay away from pay day loans…

  31. J Lind says:

    Wrong move. I love the uneducated beings a lot.
    Peace
    Jo&π

  32. James Oxford says:

    This couldn't have anything to do with all that money Mick Mulvaney took from the payday loan industry while he was in Congress… right? That'd be like quid pro quo bribery…

  33. JOKER FACE says:

    Trump; Paranoia, delusions, conspiracies, Lies, Poor Leadership

  34. Rene Mahound says:

    Usury, Shylocking, Payday loans. Call it what you want. It's the same as borrowing $1000 at ten points on the vig. You'll never pay back the principle- ever.

  35. West Side David says:

    Payda Lenders are absolutely predatory, and yet the lenders prey on everyone they can!

  36. marshhen says:

    It is usury at its most evil. how can it be legal to charge 400% interest to make a payment of fees on a loan you took out at 400% interest that you could not afford in the first place?!? Come on that is not capitalism it is extortion. These people go bankrupt over these loans and cash for car loans. Have some mercy. What about Christianity? Isnt that supposed to be a thing in the U.S? Or is Christianity only relevant when you are rich, but its not for the poor?

  37. Radwulf Eboraci says:

    Now in the face of this, the Sith Lord of the Senate, Mitch McConnell, has put forward a bill to eliminate estate taxes for those with estates worth MORE than $11 Million. Which means the super rich get another HUGE payday (pun intended) but all you average Joes with estates worth less (the majority) will continue to pay.

  38. Michael C says:

    Stay in good financial health with your bank. Protect your credit worthiness and get yourself a credit card. Become financially literate and understand your financial liabilities and risk when using your credit card. Build your credit while helping yourself cover an unexpected money emergency. Preferably at a credit union.

    -advice from my dad when I was 18. Retired US Army finance officer

  39. Peggy Roberts says:

    She doesn't get it because she doesn't understand the desperation of poverty. Unfortunately, these lenders do.

  40. Diane laughalot says:

    He is doing it ….. because he can!

  41. Peggy Roberts says:

    The sad thing is student loan debt is also predatory in the same way

  42. Zeno C says:

    Karma is a B…………Chump! Coming for you soon POS!

  43. David Ellis says:

    Many in MAGA Hats at Payday Loan outlets in strip malls. You were played by Trump & continue to pay for your mistake.

  44. Robin Fleet says:

    So, following that logic, they are saying there is not enough competition in the credit card market as their rates have been static around the 20% rate for the last thirty years or more. I say BS to the payday loans entities that roll out that piece of finely crafted crap. These entities are worse than credit cards (most credit card vendors want people to carry a balance – it pays their bills) and so do payday loans operators. They do not want you to pay off the balance, but to pay to manage it endlessly. Imagine servicing a $300 dollar loan for $3000 per year,…from a business perspective (if it was mine and I was unscrupulous – a greedy nasty SOB) I would not want you to pay off the loan and potentially recommend otherwise and I would sell the notion that it would be okay to just make smaller payments over time and keep the bundle of cash in your pocket. Yeah, I'm doing you a favor by not calling for the balance in full, I'm a compassionate soul, I know you are in a jam and short on cash (that is why you are here right) so it's cool pay me what you can. Why be $300 dollars poorer when I only need $200 and you keep the C-note…buy your self something nice or go out to dinner. Great business model. And Republicans are against abortion but are willing to let this go unchecked…priorities. F..k me.

  45. Stephen Anderson says:

    Impeachable yet? People wake TF up!

  46. IncognitoTorpedo says:

    The Trump Administration is simply evil. That's all. Just evil.

  47. Eric B says:

    This is not new news these shylock's have been milking the poorest of the poor for the last 20 years and nobody's gotten too upset about it so what's just change?

  48. Free Ma says:

    I dont know, they serve a purpose.
    #CAPITALISM

  49. Bryson Clan says:

    I actually worked for a place that would give out a paycheck advance. If you were in trouble, and were a fairly long-term employee, they would cut you a check and deduct it from your next paycheck with no fee or interest. I wonder if any employers do that any more? Doubt it.

  50. David J says:

    This is Trump's way at striking back at the resistance for all the investigations that he's under. This is only the beginning. Trump is going to become more and more VINDICTIVE . He is going to try and hurt America, and the American people, as Mueller, the SDNY, and Congress, starts to close in on his crimes.

    Tony Schwartz, the ghost writer for Trump's book "The Art of the Deal":

    "Lying is second nature to him. More than anyone else I have ever met, Trump has the ability to convince himself that whatever he is saying at any given moment is true, or sort of true, or at least ought to be true.
     He said that Trump had no ideology or beliefs, except that he should prevail in the end.

     "Trump’s temperament and his habits have hardened with age." Schwartz said. "He was always cartoonish, but compared with the man for whom I wrote The Art of the Deal 30 years ago, he is significantly angrier today: more reactive, deceitful, distracted, VINDICTIVE , impulsive and, above all, self-absorbed."
     "Every American ought to be concerned about his character." Schwartz said..

  51. Lex v Stee says:

    I have a question: If this circular logic keeps up ie: Base votes for trump > Trump screws over base > Base yells at others and votes for Trump again… won't the problem solve itself within a generation?

  52. John Preston says:

    Donald is pathetically publicly demonstrating his extreme jealousy over the beloved president of the United States Obama…
    just shows how pathetically sad Donald is…

  53. Cullen says:

    I am shocked! You mean the Mobster POTUS is ok with loan sharking ?

  54. Bob Courtier says:

    The only thing lower than pay day loans is stiffing your employees!

  55. lazy bhikkhu says:

    I fell into this hole while working full-time retail. Getting another loan from the spot across the street from where I worked, every two weeks, for months. The only thing that saved me was my tax return.

  56. Kevin Lee says:

    Day of judgement will not come until Israel is the major power on earth and the United States is no longer the most powerful county on earth I hope I never see that happening in my life time. Trump is speeding this process up.

  57. Ashton One says:

    interesting that the entity which oversees the lenders had their annual get together on trump property so they pad trumps pockets and he makes changes pay for play that should be illegal trump needs prison time

  58. Kristine H says:

    Payday loans also prey on military families… and our country doesn’t pay our soldiers enough that they feel like it’s their only option. Sickening

  59. Michael Weaver says:

    How many times have we heard deregulation will fix it and then it makes it much, much worse.

  60. i'm JGott says:

    So another shutdown is around the corner and they allow this? So who is getting a fat check due to the reversal?

  61. Luis Gonzalez says:

    And people in RED STATES say that OBAMA is everything that bad for AMERICA and look what's happening the TRASH is dumping more TRASH on us

  62. cableaddict says:

    You know who needs payday loans? Furloughed government workers, during a government shut-down.

  63. Jan truitt says:

    Oh my goodness gracious sakes alive!
    Please please please people do not use the pay day lending!

  64. Russell Newton says:

    Everything that’s bad in the USA always makes it over here in the U.K. payday loans being one of them, make the poor poorer, make the rich, richer, and they ask us to believe in trickledown economics. I suppose if your rich it works.

  65. tmwall25 says:

    people with bad credit pay higher interest rates?!?!! oohhhh the humanity!!!! not fair, life simply is not fair.

  66. ElSmusso says:

    Capitalism! Vampires!

  67. Antony bro says:

    Legalized Loan sharking … it should be illegal.

  68. D. D. says:

    This is pure evil.

  69. K W says:

    This is interesting, I used to care a lot about American politics since you elected this imbecile but now I don't think I do anymore.

    You have elected someone who, if not on the Putin payroll is certainly acting like a Russian.

    So many of his recent decisions have benefited Russian, this one now directly attacks America, the defecit and debt under him is growing at its fastest rate ever, now this latest one snackse of dirty tricks, let's play it out.

    Trump and his friends like to pray on the poor and vulnerable, that's how Trump made his millions, how many friends does he have in this industry, and the time line, the next government shut down could be days away, people are again going to be forced to borrow to eat and pay bills, but wow!!! Our wonderful president has made it easy for us to borrow money at 400% interest, what a coincident. He is forcing people into debt for revenge on the Dems not giving him any money, I knew he would find a way to get revenge after he caved the last time.

  70. francisco villarreal says:

    Don't go there look somewhere else there's another option

  71. DeElroy says:

    Another one for my new Book "And People Believe this Sh*T!?". – Guys, if you need to get a payday loan, you already can't afford the repayments. If you had that spare cash, – you wouldn't need the loan……..

  72. A. NOAH says:

    He used to take advantage on poor people.

  73. Mike says:

    Cause they own stock in these companies OR their friends own these companies and they get kickbacks for 'helping' their friends make more money off the poor.

    Republican = Walk on others on your way to riches.

  74. Shuhei Hisagi says:

    PAYDAY LOANS are LOAN SHARKING! If you take their service you're opening yourself to an never ending DEBT! The problem aint the LOANING, its how there is lil regulation to prevent them staying in debt!
    LOL when JOHN Oliver did a piece on this, its FUNNY now cuz that was many months ago, and now its FEB 2019…… lol ya'll are SLACKING!!!!!!!!!!!!! Hey America Listen to her say @ 6:22
    ON POINT ! HEART YA GIRL!

  75. Markus Wrede says:

    Maybe this helps: instantloan365.com 🙂

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