Payday loans are marketed as quick cash to help people get to their next paycheck, but they come at a great cost with an average interest of 300 percent and people getting multiple loans over time, according to a 2016 report. The Community Financial Services Association of America, which lobbies on behalf of payday lenders, held their annual conference in Trump National Doral Miami recently andfaith leaders from across South Florida protested the event, arguing payday lenders disproportionately target low-income minority groups. Angel Pittman protested at the event and is the Vice President of Touching Miami with Love, a faith-based organization. Pittman and Charla Rios, a researcher at the Center for Responsible Lending, which focuses on payday loan practices, joined Sundial to talk about this issue.
Tuesday, March 26, 2019