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Planet Money

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Business, News & Politics

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The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.

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#178 Planet Money: Inside A Payday Loan Shop

May 18th, 2010

Episode 270 of 910 episodes

During the credit boom, lots of payday loan stores sprang up in Mansfield, Ohio. You'd expect that all those companies would have competed with each other, driving down interest interest rates for borrowers, But that didn't happen; they all charged, basically, the same price. The lack of competition may have been the unintended consequence of a law that was supposed to protect borrowers.

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