Payday lending is legal in 29 states.
The average annual interest rate is ~400%.
Most people who take out one loan take out 4 more.
The most common reason to take out a payday loan is to pay the interest on a different payday loan.
The average annual interest rate is ~400%.
Most people who take out one loan take out 4 more.
The most common reason to take out a payday loan is to pay the interest on a different payday loan.
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