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October 17, 2016

Title: What are Payday Loans?
Topic: Payday Loans

Discussed by Hilary Miller
with Competitive Enterprise Institute www.cei.org

Part 1 of 2

It is estimated that approximately 12 Million Americans have taken a payday loan in the last year, ranging from $100 to $500 with the average being $375. New guest Hilary Miller is an attorney and statistician with the Competitive Enterprise Institute. Hilary is also the Chairman of the Consumer Credit Research Foundation. Today he will be discussing the rising trend in payday loans.

Questions/Issues Discussed:

What are payday loans?

Are payday loans heavily regulated by the Federal Government? In addition, are the collection practices of companies which give payday loans highly scrutinized?

What type of person usually seeks a payday loan?

Why does someone seek a payday loan?

What do most people do when “life happens” and they do not have enough money for an emergency?

Who will suffer the most if the Federal Government places more restrictions on payday loans?

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Title: Part 2 of 2 - What are Payday Loans?
Topic: Payday Loans

Discussed by Hilary Miller
with Competitive Enterprise Institute www.cei.org

Questions/Issues Discussed:

Is it a good idea for the Federal Government to allow the Post Office the authority to issue payday loans? Maybe the Post Office should apply for a loan for themselves!

Do Payday Loans serve a purpose in our society today in America?

How can payday loans be improved in America?

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