Tribal lenders have charged up to 600% APR on short-term loans

'Usury' is the act of lending money at an excessively high interest rate

Laws regulating predatory lending are called usury laws and vary from state to state. Payday lending has historically been exempt from some states' usury laws, and some lenders have found loopholes in state laws or business structures that allow them to provide short-term loans with high interest rates.

Tribal courts handle justice on reservations, but face strict limits on whom they can prosecute

Reservation-based courts handle civil and criminal cases, but federal law sharply limits their authority over non-tribal members. As a result, non-Native individuals who commit crimes on reservations often fall outside tribal jurisdiction, creating potential gaps in accountability.

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.

Payday loans typically have higher interest rates than cash advances

Cash advances and payday loans are both short-term loans that allow borrowers to access cash quickly. Payday loans are much shorter-term, often due in two weeks or by the borrower's next paycheck, and have much higher interest rates.

The costs and fees for a payday loan include a 'finance charge'

Payday lenders typically make money via finance charges, a percentage or dollar amount that the borrower owes the lender per $100 borrowed. While the finance charge can range from $10 to $30 for every $100 borrowed, this would equate to an annual percentage rate of almost 400 percent for a two-week loan.

Tribal casinos have generated billions in revenue

After Congress passed the Indian Gaming Regulatory Act in 1988, granting tribes the legal right to operate casinos on reservation land, tribal gaming expanded dramatically. Today, tribal gaming ranks among the largest revenue sources for participating tribes.

Military bases were once targets for payday loans and other predatory lending

The Military Lending Act of 2006—a federal law—capped the interest a lender can charge an active-duty soldier at 36% after the Department of Defense criticized payday lenders for targeting young soldiers with high-interest, short-term loans. However, many towns near military bases still have predatory businesses that critics say take advantage of army families living paycheck to paycheck. (Some readers may experience a paywall.)

Title loans are a type of short-term loan with high interest rates

Title loans allow borrowers to use their vehicle's title as collateral for a short-term loan. Similar to payday loans, title loans often have high interest rates and are mostly structured to last around 30 days. If title loans aren't repaid, the lender can take possession of the borrower's vehicle.

In 2023, Native Americans had the lowest life expectancy at birth among all racial and ethnic groups

Native Americans and Alaska Natives face significant health disparities linked to chronic underinvestment in reservation health infrastructure, poverty, and multigenerational psychological harm—often called historical or inherited trauma.

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.)

Payday lenders are more highly concentrated in neighborhoods with high poverty rates

Research from the Federal Reserve Bank of Chicago shows that payday lenders in Illinois were more densely populated in zip codes with high poverty rates. The data also shows that payday lenders were more likely to cluster in zip codes where the highest percentage of residents are minorities.

A 1975 law let tribes run their own programs instead of relying on federal bureaucracies

The Indian Self-Determination and Education Assistance Act allowed tribes to contract directly with the federal government to administer their own health, education, and social services—reversing policies from the "termination era."

Some argue that advance payday apps aren't markedly different from payday loans

Some apps, like EarnIn, allow users to get money from their paycheck in advance. These apps access users' banking information, allowing the company to immediately take back any borrowed money and track users' financial situations to evaluate their risk. Unlike traditional payday lenders, these apps often waive the right to sue users who don't pay back the initial principal and don't charge interest, but rather ask users for a tip. (Some users may experience a paywall.)

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.

Native religious practices were suppressed for centuries before receiving federal protection in 1978

During the first two centuries of American history, the government frequently banned Native ceremonial dances, took sacred sites, and enrolled children in boarding schools where they were prevented from practicing their faith. The American Indian Religious Freedom Act of 1978 committed the federal government to safeguarding Native spiritual practices.

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.

Find out ways to get lower rates on private loans, such as applying with a cosigner

More borrowers are being pushed to opt for private student loans as changes to federal borrowing caps and repayment plans are implemented. Private lenders typically advertise interest rates that fall anywhere between sub-3% and 15% or higher.

Some tribes push for national parks to be under Indigenous control

Ojibwe author and academic David Treuer talks about his push for 80 million acres of American national park land to be returned to Indigenous stewards. Treuer proposes the government grant control of this land to a consortium of tribes, which would maintain and manage it for use by all Americans.

Over 25% of Americans regret using BNPL due to unexpected costs

Almost 24% of buy now, pay later users have missed payments, with younger users (32% of 18- to 29-year-olds) being more likely to fall behind on payments than their older counterparts. (Only 12% of adults age 60 or over had done the same.)

Alaska has the highest lifetime credit card debt of all US states at $484,620

That's 21.8% above the national average, partly due to Alaska's high cost of living and remote nature, which makes shipping in food and fuel more expensive. Iowa had the lowest average lifetime credit card debt out of all the states in the US at $319,740.

How art-backed loans work

Using your art collections—some of which are valued in the millions—to secure a loan is becoming more common among collectors. Here's a breakdown on how banks and private lenders are making best of the opportunity in liquidity.

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

Are credit unions living up to DEI promises?

Credit union insiders often say their institutions better serve minority bankers through a combination of a not-for-profit ethos and community focus. However, a recent probe found that the largest US credit union rejected more than half of all Black applicants for conventional mortgages. To dive deep into Navy Federal Credit Union’s mortgage practices, read this journalistic investigation.

9 states still offer prepaid tuition plans

Prepaid tuition plans, a type of 529 plan that locks in tuition rates when opened, are only offered in nine states for new enrollment. In addition to the nine states’ plans, there’s also a national plan for a network of 300 private colleges.

The Chumash manufactured shell beads for thousands of years, eventually as money

The practice was unique to the Chumash among North American Indians. Some researchers have made the case theirs was the first use of money on the continent.

The CD whose rates change based on Villanova basketball games

Ardent Credit Union in Philadelphia tied the interest rates of one of its certificates of deposit to whether Villanova won or lost a basketball game. A win moved the rate to 4.25%, while a loss reduced it to 3.9%. Financial experts say its only beneficial for a narrow group

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

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

44% of Americans say they pray at least once a day—discover how your state's religiosity stacks up against the rest of the country.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

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.

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

The deadliest aspect of volcanic eruptions is often not lava, but pyroclastic flows—avalanches of ash, gas, and rock that can move more than half the speed of sound.

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.

Massive 3D printers have been used to build homes by stacking layers of 'concrete toothpaste,' a fire-resistant material that effectively insulates against outside noise.

Poison ivy's characteristic rash is caused by an allergic response to an oily compound in the plant called urushiol.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

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

Watch how deep-sea mining equipment collects and processes polymetallic nodules—metal-rich, potato-shaped rocks—from the ocean floor and creates environmentally damaging plumes of sediments.

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

Hookworm infection, though risky, may help fight certain autoimmune conditions by tamping down the immune system's inflammatory response.

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 renewable energy sources may weaken the resiliency of electric grids by removing outage buffers provided by coal- and natural gas-fired plants, which provide the system with more time to find a new power source if a plant goes down.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

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

Prince's sexually explicit 1984 track 'Darling Nikki' attracted the ire of the Parents Music Resource Center, an advocacy group that inspired the Parental Advisory sticker, even though the song ends with a Christian message.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon