2min chapter

Capitalisn't cover image

Why America's Poor Remain Poor, With Matthew Desmond

Capitalisn't

CHAPTER

The Problem With Payday Lending

Sally Kohn: I thought you were obviously right in your diagnosis of the problem, but I wasn't so sure about your solution. Everything we've done in the banking system has actually discouraged banks from making these kinds of loans. Solutions like one you mentioned, like the post office, they don't have their staff isn't even close to trained enough to disperse these kind of loans. She says faith-based organizations should get more involved in this and start issuing low interest loans or character loans that compete with payday lending.

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