Liz Laderman on April 16, 2026
$6 b in overdraft fees; $2.4 b in payday loan fees; $.7 b in car title loan fees. These enormous sums are extracted every year from families as the result of onerous triple-digit interest rates. Purveyors of high-cost loans like payday loans and auto title loans claim that they are providing funds for households to cover unexpected and occasional emergencies like medical bills or car repairs.