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Podcast: CANADALAND
Episode: Payday Loans: the Cost of Being Poor
Description: Starting January 1st, the criminal interest rate on predatory lending will be lowered, meaning it should be safer to take out payday and installment loans. But these businesses have a tendency to skirt the law, adding unexpected fees and insurance rates to keep borrowers in the hole.Sam welcomes Donna Borden to the show - an organizer with ACORN. She’s been a victim to these loans, and is now fighting against them. Will the crackdown work and really help lower people’s payments? How can we make short term loans a real opti...