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The Fleecing of America (Payday Loans) #775692

NBC Evening News for Wednesday, Dec 29, 2004
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(Studio: Brian Williams) Report introduced.

(New York: Anne Thompson) The growth in the payday loan industry featured; details given of the use of the Internet by lenders to bypass state laws limiting interest rates. [Teacher Thomas HALL††- explains what happened to him.] [Consumer Federation of America Jean Ann FOX†- says the loans are structured to renew on payday.] [Hall’s attorney Dean MALONE†- explains how the lenders work.]

Reporter(s):
Williams, Brian;
Thompson, Anne
Duration:
00:02:20

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