Payday Loans

7:49 am
Tue October 22, 2013

Orgs Seek Alternatives To Powerful, Expensive Payday Loans

Pay Day loans are typically 2 week loans for under $500 that carry borrowers from pay check to pay check
Credit Laura Ziegler

Missouri is in the crosshairs of a national debate over payday loans. This is partly because the industry is huge and wields a lot of political power in the state, but also due to a growing, grass- roots consumer movement. Payday lenders say they provide necessary alternatives to more costly bank overdrafts and credit card debt, but consumer activists aren’t buying it, and are working to provide alternatives for short term loans.

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9:57 am
Wed August 7, 2013

The Payday Playbook: How High Cost Lenders Fight To Stay Legal

Supporters of the ballot initiative to cap the annual rate of loans at 36 percent rally at the entrance of a Kansas City payday lender in September 2012.
Credit Communities Creating Opportunity

A version of this story was co-published with the St. Louis Post-Dispatch.

As the Rev. Susan McCann stood outside a public library in Springfield, Mo., last year, she did her best to persuade passers-by to sign an initiative to ban high-cost payday loans. But it was difficult to keep her composure, she remembers. A man was shouting in her face.

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Up to Date
6:00 pm
Tue August 6, 2013

Payday Loans Elude Stiffer Regulation In MO

Short-term lenders make big profits in Missouri. QC, which mostly does business as Quik Cash, has 101 outlets in Missouri and in 2012, one-third of the company's profits came from the state, twice as much as from California, its second-most profitable state.
Credit Wikipedia Commons

Payday lenders are notorious for their sky high interest rates, and the people who use these storefront creditors are oftentimes the ones least able to pay.

In the first part of Wednesday's Up to Date, Steve Kraske talks with ProPublica reporter Paul Kiel about the situation in Missouri, where attempts to regulate these businesses—such as capping interest rates—keep getting defeated.  

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Central Standard
10:01 am
Mon April 23, 2012

KC Civil Rights Summit

Auntie P Flickr

On this Monday's Central Standard we speak with Ayanna Hightower-Mannon and Paul Pierce, who work in Kansas City's Civil Rights Division.

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April 8, 2012
12:41 pm
Fri April 6, 2012

Rebuilding Prospect, Revelations Of Ancient Peru, Remembering Past World’s Fairs

Veteran businessman Kenneth Bledsoe with his wife and son.
Susan B. Wilson KCUR

The show for April 8, 2012. Click "Listen" to hear the entire show; see below for individual stories.

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Central Standard
12:00 pm
Tue September 20, 2011

The Effects of Restricting Payday Lending

Andrea Silenzi

Payday loan shops provide small, short-term loans. A typical loan ranges in size from $100 to $500, and must be repaid within two weeks. The industry contends that such loans help people pay for unforeseen expenses.

But many people believe that such loans are harmful because of the amount of interest charged. In the state of Missouri, the average APR on payday loans is above 400%.

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KC Currents
3:11 pm
Mon September 27, 2010

New Alternative to Payday Loans

Kansas City, MO – Missouri has some of the loosest regulations in the country for the payday loan industry. The state is home to almost 1300 payday loan operations, compared to neighboring states that report 500 or fewer payday loan businesses.

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