KQED Nightly Business Report June 3, 2016
Sometimes, believe it or not, topping a 300 annual rate. The goal, it says, is to protect consumers from risky financial products. The industry is bigger than many think. Its market size, 39 billion in revenues. According to pew research, about 12 million americans use payday loans every year. There are some 20,000 payday lending outlets nationwide. Even though the practice is banned in 14 states. Thats more than the number of mcdonalds, which is seemingly everywhere, with 14,000 restaurants in the u. S. Heres eamon javers with a look at the proposed rules. Reporter in kansas city, missouri, t...