3 ms·

Ever had a payday loan? I'm guessing no.

• fennecfoxen 5y ago
  i'm unsure why this would make APR a better tool to understand two-week loans, or how it would make things less paternalistic
  • pnutjam 5y ago
    The process is pretty demeaning and profits are higher then you think. The lenders dilute the profits by opening stores all over the place. It's a competitive industry. APR is the accepted measure for loans, why should they break the standard and get special treatment?