ProPublica: Transcript – Installment Loans and the Shifting Debt Industry

May 16, 2013

Monday [May 13, 2013], we co-published a story with Marketplace on installment loans, a growing industry that offers quick money to low-income borrowers – and is flying under regulators’ radars.

Installment loans are the cousins of payday loans. They exist in at least 19 states, mostly in the South and Midwest, and offer borrowers with poor credit easy access to money. World Finance, a billion-dollar installment loan company, has more than 800,000 customers across the U.S. World and other installment lenders often put their stores near military bases.

Yet as our story explains, installment loans can be “deceptively expensive.” Read more here.