VIDEO: HBO’s John Oliver Goes After PayDay Loans
John Oliver has taken on some controversial topics on his new HBO show, Last Week Tonight. This time, he and Sarah Silverman take on payday loans.
Payday loans have been a hotly debated topic, with many saying that payday lenders are just loan sharks that take advantage of those looking for loans. The U.S. industry is a $27 billion business, but with interest rates charging 1,900% or more for these loans, lenders are using regulatory loopholes to make repaying harder for those less fortunate and get them stuck in a cycle of borrowing.
Here was Oliver’s take: “Basically, payday loans are the Lay’s potato chips of finance. You can’t just have one. And they’re terrible for you.”
Sarah Silverman came on to show Last Week Tonight’s “commercial” for its ideal payday lender, a company called “Anything Else.”
Check out the video below:
