MEDIA: New rule proposed to change payday lending’s ‘predatory practices’
On Indianapolis’ south side, there’s one corner with three payday lending locations.
That East Street corner isn’t the only one. In Marion County, there are 92 payday lending locations. That’s more than the number of Starbucks and McDonald's locations combined.
Hoosiers lose $70 million each year from high interest rates from payday loans.