John Oliver, Sarah Silverman Join Forces to Hit ... Payday Loans
Consumers, do 'literally anything else' for money, they say
By Evann Gastaldo, Newser Staff
Posted Aug 11, 2014 10:20 AM CDT
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(Newser) – On last night's Last Week Tonight, host John Oliver and guest Sarah Silverman took on a very important issue: payday loans. The predatory industry is worth $9 billion and the loans "are terrible for you," Oliver warned, noting that interest rates can be as high as 1,900%—meaning the often-poor consumers must sometimes take out more loans to pay for the first loan. Silverman then issued a PSA advising that anyone who really needs money earn it by doing "literally anything else," Salon reports. The show airs Sunday nights on HBO.

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Showing 3 of 27 comments
VAlice
Mar 17, 2015 1:03 PM CDT
Some companies have set maximum interest rates, other have not. This issue is kind of odd because most of these payday lenders are underwritten by the major banks but are also defended by progressives as a needed service for poor people. Payday loan businesses are usually used as a last resort by low paid workers who simply cannot make it from one payday loan to the next, people whom banks would reject and credit card companies refuse. I personally wouldn't like to see the entire payday loan lenders in UK industry go away.
Jhon_P
Aug 13, 2014 8:58 AM CDT
I STARTED TO NOT LIKE THIS GUY MONTEL WILLIAMS THE FIRST TIME I SAW HIM IN ONE OF THESE ADVERTISEMENT
Tabbico
Aug 12, 2014 2:27 PM CDT
1,900% interest? Where are usury laws when we need them? Heck, the loan shark down the block from me only charges 25% interest!