Tony Talks Business
How Pay Day Loan Stores Make Money
Borrow $375 from a payday store and the fee is just $56. Five months later Tony had paid more than $560 in fees and still owed the full $375. This is how payday stores really make money.
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Chapter 28This one is in the bookTony Takes It Back: the traps at the counter, the numbers, and what to say. Plus 29 more businesses.See the bookChapters
- 0:00The Rule
- 2:47The Fee
- 4:16The Rollover
- 7:26The Store
- 10:52The Check
- 12:46The Shark
- 14:42The Racer
- 17:19The Cap
- 19:40The App
- 21:01The Wages
Sources
20 pages the figures in this video were read from.
- files.consumerfinance.gov
- consumerfinance.gov
- consumerfinance.gov
- pew.org
- pew.org
- fdic.gov
- cato.org
- chicagofed.org
- restaurantbusinessonline.com
- responsiblelending.org
- jbmdl.jb.mil
- historians.org
- en.wikipedia.org
- justice.gov
- pymnts.com
- en.wikipedia.org
- pew.org
- responsiblelending.org
- everycrsreport.com
- consumerfinance.gov
