"Study: Payday loans costly"
That's the headline from yesterday's lead story in The Plain Dealer.
It turns out that all those payday loan shops around Cleveland aren't just there to occupy space in floundering strip centers, as previously thought. According to reporter Michael Sangiacomo, people actually use them. And because they can legally charge interest of up to 391 percent, this is bad. Not bad for the guy making the loans; it's pretty good for him. We're talking about the guy getting the loan.
This has been another startling news update from C-Notes. We now return to the useless crap you were just reading ...