TIL there are more payday loan stores in the US than there are Starbucks or McDonald’s.

submitted by theFriendlyDoomer from research.stlouisfed.org

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[–][deleted] 10 insightful - 1 fun10 insightful - 0 fun11 insightful - 1 fun -  (2 children)

all the new small businesses never last more than 2 years in my city, exccept payday loans, theyve been there forever

part of the corrupt banking system, they always take advantage of the weak and vulnerable and governments allow it because the banks control government

[–]Earl_Harbinger 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

For people without financial literacy or self control, they can sadly become a necessity. Do you have a alternative to their existence that wouldn't involve those who utilize them getting booted from their apartment?

[–]philosopher 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

As much as I value freedom, there are some people who cannot be left in charge of their own finances.