And most people, including me, are not against lending money and interest, conceptually, but it depends on what interest rate it's being loaned at. So There are payday loans in this country that are 600% annually. 600% interest annually. And who's taking payday loans in this group of poor people are. And they're never getting out of it. They're car loans, they're credit card loans. (45:17–45:23)
CLAIM
Asserts that payday loans in the United States can have interest rates of 600% annually.
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