Watch John Oliver Explain How Payday Loans Are Awful


Payday lenders are awful, horrible scum who prey on the desperation of the working class. Payday loans are awful, horrible deals wherein a borrower gets a small amount of cash at an exceedingly high interest rate and agrees to pay it back in a short amount of time, typically two weeks. If a borrower can’t pay it back then they’re hit with an avalanche of fees and end up having to borrow more and then its a vicious cycle all the way down. According to the Center for Responsible Lending, the average borrower ends up paying $1,105 to borrow just $305.

On Sunday’s Last Week Tonight, John Oliver made these points and more in a way that will make you eventually run your head into a brick wall because you have no more tears left to shed.

Watch:

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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