Satire Site Exposes Payday Lenders

Three technology entrepreneurs just launched a satire site exposing the payday loan industry that combines cutting edge technology, very deep coverage of the payday loan issue, and dark humor.
This post was published on the now-closed HuffPost Contributor platform. Contributors control their own work and posted freely to our site. If you need to flag this entry as abusive, send us an email.

Three technology entrepreneurs just launched a satire site exposing the payday loan industry:

The Predatory Lending website is a unique political cartoon. It combines cutting edge technology (Web 2.0 Google mash-ups), very deep coverage of the payday loan issue, and dark humor. The website has a military base finder to locate armed forces lending opportunities, a comparison of payday lending and indentured servitude, and racial profiling tools.

Payday loans often carry interest rates around 400% APR. The 2007 Defense Authorization Bill capped loans to military personnel at 36%. Consumer advocates are calling for the interest rate cap to extend to all citizens. Some states such as North Carolina, have completely eliminated payday loans with a combination of interest rate caps and short-term loans from state credit unions.

Check out the website and leave a comment about payday lending in the discussion forum:
http://www.predatorylendingassociation.com/

Popular in the Community

Close

What's Hot