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Payday Lending

The Sound of Ideas
Tuesday, August 21, 2007 at 9:00 am
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OK, a $15 fee for every $100 borrowed might not sound like much at first, but that's what payday lenders are banking on. Do the math and it turns into a 391 percent annual percentage rate. Despite that, payday loans are popular. Lawmakers are debating new limits for the payday lending industry -- later this morning we'll talk about what works, what's fair and what else there is when you're trying to pay your bills. Join us at nine, on 90.3.

Guests

Bill Faith, Executive Director, Coalition on Housing and Homelessness
Darryl Dever, spokesman, Ohio Association of Financial Service Centers
Rita Haynes, CEO and manager, Faith Community United Credit Union

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