North Carolina was the first state to ban payday lending

Modern payday lending came about in the late 1990s

In the early 1900s, unlicensed "salary lenders" used to give consumers one-week loans at annualized percentage rates of more than 100%. But wage garnishment and financially abusive practices led some states to create special licenses for lenders and implement rate caps to protect consumers. In the 1990s, a series of deregulations in various states opened the door for the modern payday lending industry to take off.

The first modern payday lending store opened in Tennessee

Check Into Cash Inc. is widely recognized as the first national payday lending company. Originally started by a preacher in Johnson City, it was later popularized by Allan Jones, who founded Check Into Cash in 1993. Jones has since donated a significant amount of money to the city. (Some users may experience a paywall.)

Banks have increased small loan programs since 2018, upping competition for payday lenders

One of the reasons payday lending flourished for nearly two decades is that most banks charged high overdraft fees and didn't offer small loans. However, since 2018, banks have increased their small loan options. Supporters say this provides safer alternatives for consumers, as banks are subject to more regulatory measures and are less likely to allow consumers to keep rolling over loans.

Google banned ads for loans due within 60 days and interest rates exceeding 36% or higher

In 2016, Google said it would stop allowing payday lenders to advertise on the search engine. According to the company, this decision was made to protect users from deceptive and harmful financial products.

Supporters of payday loans say banning them would harm low-income Americans

Many argue for a federal policy that would cap interest rates for these loans, but payday lenders say that would make it impossible for them to make money, effectively forcing them to close up shop. As a result, some argue that the policy would prevent low-income, unbanked, and traditionally high-risk borrowers from accessing credit when they need it. (Some users may experience a paywall.)

In 2025, the 'two strikes and you're out' rule took effect to protect consumers from repeated attempts to withdraw money

After years of being delayed by litigation, a 2024 US Supreme Court ruling upheld a law that prevents lenders from attempting to take payments from accounts with insufficient funds more than twice without reauthorization. This tactic is commonly used by payday loan companies, which technically require repayment on the day borrowers receive their paychecks.

Meet a payday lender who tried to fight the industry

Phil Locke once ran more than 40 payday lending stores in Michigan before walking away from lending in 2012. Locke left because he said he felt guilty about being a predatory lender. He tried to become a consumer protection advocate and influence reform, but ended up returning to the industry. (Some users may experience an email wall.)

North Carolina's original copy of the Bill of Rights was stolen during the Civil War and recovered 138 years later

A Union soldier looted the document from the state archives in 1865 and sold it for $5. It remained in private hands for more than a century before an undercover FBI agent posing as a buyer seized it in 2003 at a Philadelphia office building.

North Carolina adopted 'First in Flight' license plates in 1982—to snarky reviews

Many locals surfaced the irony of enshrining the accomplishments of two men from Ohio on the license plates of North Carolinans. Nonetheless, the style endures to this day, alongside Ohio’s “Birthplace of Aviation.”

The history of bankruptcy in the US dates back to the signing of the Constitution

In 1787, this founding document gave Congress the right to establish nationwide bankruptcy laws. Legislators took advantage of that power in 1800 when they passed the Bankruptcy Act of 1800, the first comprehensive bankruptcy law at the federal level.

The modern large chain dollar store business model originated in the South

The first Dollar General store opened in Kentucky, the first Family Dollar in North Carolina, and the first Dollar Tree in Southern Virginia. To this day, dollar stores have more distribution centers in the South than anywhere else in the US.

Southern Black Codes sought to preserve prewar racial labor structures

With little federal oversight, Southern states enacted laws effectively reestablishing slavery's economic and social order. These laws, known as the "Black Codes," restricted freed people's movement, labor, and property rights.

The story of Apple Pay Later, a short-lived BNPL service

Apple rolled out its own buy now, pay later service in 2023, but Apple shut it down the following year. Instead, Apple made changes to let its Apple Pay users make purchases and access installment loans through BNPL company Affirm.

Colorado legislates neural and biological data generated by the nervous system

The law expands personal privacy protections to include data from brain activity, marking the first legal step of its kind in the US. It targets companies involved in consumer neurotechnologies, which were previously not required to restrict user data access.

Nevada legalized gambling in 1931

Las Vegas was originally a quiet town, but the legalization of gambling (along with relatively lax divorce laws) turned it into a Prohibition-era destination.

Read why some states are considering imposing a flat tax rate that isn't adjusted by income

Wisconsin was the first US state to impose a state income tax, close in time to when the federal income tax went into effect. Many states followed suit, but nine states to this day still don't levy wage-related taxes.

Student loan debt differs from state to state

Washington, DC, has the highest average federal student loan debt in the country at $54,795 per borrower. North Dakota has the country's lowest average at $29,647 per borrower.

Fannie Mae and Freddie Mac are federal housing enterprises originally established to offer affordable housing loans to buyers

The Federal National Mortgage Association is commonly called Fannie Mae, and the Federal Home Loan Mortgage Corporation is called Freddie Mac. Since Fannie Mae’s creation in 1938 and Freddie Mac’s in 1970, they’ve become staples of the housing market.

'NIL' in college sports refers to 'name, image, and likeness'

In 2021, the NCAA began allowing its student-athletes to profit from using their name, image, and likeness, now often called NIL. While this is now permitted by the NCAA, state law (and school policies) largely dictate what is permitted.

Roughly 43 million US borrowers owe roughly $1.7T in student debt, the second-largest source of consumer debt behind mortgages.

More than 130 nations have enacted bans or restrictions on plastic items

Several US states have enacted similar restrictions on plastic bags, straws, food containers, and other single-use plastics, while others have prohibited plastic bans. Despite this, California’s plastic bag ban cut usage by more than 70%, showing the potential of these policies.

Connecticut recently became the first state to create and launch a baby bond program

The program invests $3.2K for a baby born after July 2023, who is covered by the state's Medicaid program. When the child turns 18, they can use the funds for college, retirement, to buy a home, or invest in a business.

Watch a North Carolina house collapse into the ocean

While the Outer Banks experiences beach erosion, rip currents and overwash from a nor’easter along the coast, a seaside house in Rodanthe collapsed Tuesday.

Find an accredited credit union near you

The National Credit Union Administration is to credit unions what the Federal Deposit Insurance Corporation is to traditional banks—it insures deposits of up to $250,000 per customer per account. This lookup tool allows you to search for nearby credit unions so you can check that a business is accredited by the NCUA before you begin your banking journey.

New England towns have practiced direct democracy since the 1700s

Town meetings in New England let residents vote directly on local budgets, laws, and policies. One of the oldest surviving forms of participatory democracy in the United States, the tradition dates back nearly 250 years.

Christmas was briefly banned in 17th-century England

In the 1640s, Puritans outlawed Christmas, deeming it wasteful and unbiblical. For nearly two decades, celebrations were suppressed and violators fined, though many ignored the ban. The law was repealed in 1660.

See this overview of the firework rules across all 50 states, ranging from a complete ban on non-professional fireworks in Massachusetts to states with more lax rules like Indiana.

70 years ago today, city officials in Santa Cruz, California, banned rock 'n' roll to protect its youth from corruption after witnessing a 'provocative' concert the night before.

The story of Dollree Mapp, whose legal challenge over her 1957 conviction for possessing "obscene material" led to a major strengthening of the Fourth Amendment

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Despite being favored by 87% of Americans, Congress does not have term limits.

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

The first line of 'immortal' human cells, which can divide indefinitely and are used in scientific research, was nonconsensually taken from a Black woman.

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

View the ten deadliest tornadoes in US history.

A vending machine run with Anthropic's AI went out of business after it was convinced to give away items for free and sell a video game console.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

Some researchers have labeled nomophobia, the fear of being without your phone, as 'the phobia of the 21st century.'

The first horror movie is believed to be George Méliès' 1986 short 'The Haunted Castle,' which pioneered the use of special effects

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

In its famous catalog, Sears sold $600 DIY house kits from 1908 through the 1940s, resulting in an estimated 100,000 'Sears and Roebuck homes.'

20,000 letters to the advice columnist 'Dear Abby' provide insight into prevailing sex, religion, and LGBTQ fears, anxieties, and concerns from the 1950s onward.

Louisiana's 'Cancer Alley' is infamous for having some of the highest industrial pollution, toxic air emissions, and cancer risks in the US.

For centuries, Niagara Falls has been a magnet for daredevils seeking to conquer one of nature's most powerful wonders, with its 200-foot drop and water rushing at 32 feet per second with 280 tons of force.

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

Planarian flatworms are small, aquatic worms with exceptional regenerative capabilities. When cut, the worms can regenerate multiple bodies in a matter of weeks.

In 2018, 26-year-old missionary John Allen Chau was killed by tribesmen after attempting to reach and evangelize on India's isolated North Sentinel Island

Venture capital is a form of funding provided to early-stage companies with high growth potential, typically in exchange for an equity (or ownership) stake

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight