In 2014, there were more payday loan stores than McDonalds

Payday lenders spent more than $5M on lobbying efforts in 2025

Payday lenders largely oppose rate cap policies, increased borrower risk-assessment requirements, and other regulations that would effectively shutter their industry. In 2025, the payday lending industry lobbied against interest rate limits on payday loan apps.

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 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.

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.

Research shows that payday lending advertisements target minorities

A University of Houston Law Center study found that despite only making up 23% of payday loan recipients, Black people appear in 35% of advertisements. Similarly, 77% of the physical payday lending and auto title lending storefronts in the study targeted racial minorities.

Federal law requires payday lenders to meet certain transparency requirements, but states have their own regulations

Federal law treats payday lending like other lines of credit, meaning it requires lenders to disclose the loan's interest rate and its "finance charge," a dollar amount expressing the full cost of the loan. But states have their own regulations around payday lending, hence why it isn't allowed in every state and why the industry looks so different across the country. These regulations are often part of a state's usury laws.

Houston, Texas depends heavily on payday loans

In 2024, people in Houston took out payday loans at a higher rate than the national average. In Texas, the average payday loan interest rate is 664%.

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.)

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.

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.)

11,000 new US dollar stores opened between 2007 and 2017

Dollar store retailers experienced significant fiscal gains during the 2010s, which were then accelerated by the COVID-19 pandemic. But in recent years, dollar stores have been closing in large numbers and suffering financial hardship. Experts point to Walmart's strategy of decreasing prices to cater to inflation-fatigued customers, and point out that when Walmart does well financially, dollar stores typically suffer.

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.)

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

Fast-food prices have increased more over the past 10 years than both full-service restaurants and inflation

Apparently, according to experts on the subject, rising labor costs are to blame. Fast-food giants like McDonald's are now seeing the consequences in their underwhelming earnings reports.

What McDonald's looks like in 55 countries

From the oldest operating McDonald's in the world to the farthest north, a photographer visited hundreds of the world's most popular restaurant chains over several years. He watched to see what the locals would order, bought food, took pictures of the food, and then ate it. He calls the work social anthropology, and compiled his images in a book titled the "McAtlas." See the photos here.

More than 3 million student loan borrowers were in default at the end of 2021

More than 3 million student loan borrowers were in default at the end of 2021. While default rates have declined since pandemic-era payment pauses, failing to pay off student debt can still have serious consequences, from a low credit score to the government withholding wages.

Thousands of quarters and huge water bills: the economics of laundromats

There are approximately 30,000 laundromats in the US, serving the roughly 50% of apartment dwellers who do not have a washer or dryer. Shops profit when they can get their machines—roughly 30 to 40 per location, on average—to wash eight to 10 loads a day. Connections with commercial vendors help.

A third of Americans don't have the cash they need to cover a $500 emergency

That's according to a 2023 Federal Reserve survey. So what does the average American in this camp do when, say, their car breaks down? This video compares six of the most common ways Americans get money when they don't have it. As it turns out, some of them opt for payday loans, which this video argues are predatory.

The most common job in each US state in 2024

In 15 states, the most common job by number of employees is "fast food worker." Other most common jobs include cashiers and nurses.

It takes an average of 14 days of work to afford a monthly mortgage in the US

This map of the US shows the number of eight-hour workdays it would take to afford a monthly mortgage payment in each state. Specifically, the calculations are based on median hourly wages in each state, as well as a 30-year mortgage, 5.8% mortgage rate, and a 6% down payment.

Driving forces behind pay transparency laws

Since 2018, pay transparency laws have been enacted in more than a few states and cities across the US. But what’s driving the trend, from a legal perspective? This law review article attempts to answer that question, citing factors such as the Great Recession and the gender pay gap—click here to learn more.

Illinois has more local governments than any other state

As of 2022, there were a reported total of 90,837 local government units across the US. Illinois had the highest number with 6,930, followed by Texas with 5,533. Explore all the data from the 2022 Census of Governments, which takes place every five years.

It’s estimated there are 10,000 single-family and 5,000 multifamily offices globally

Family offices are expanding around the world at a rapid pace, impacting the wider financial landscape.

See a database of large companies owned by private equity firms

The Private Equity Stakeholder Project tracked more than 200 companies owned by private equity with more than 7,000 employees. Companies on the list include J. Crew, Jersey Mike's Subs, Barnes and Noble, Panera Bread, and Tropical Smoothie Cafe.

Advertising-related activity may have supported roughly one in five American jobs as of 2024

That’s according to a study commissioned by The Advertising Coalition, conducted by S&P Global Market Intelligence, which also found that the advertising industry powered more than 20% of total US economic output at the time.

The Federal Reserve is the most powerful financial institution in the US

The Fed controls the money supply, determines interest rates, and regulates the banking system. Established in 1913 after a volatile series of financial panics, the central bank has managed to retain its legitimacy despite broad critiques against its obscure and independent decision process.

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.

Fast-casual restaurant Chili's is experiencing a resurgence, with its parent company recently reporting a nearly 32% increase in sales, thanks to passionate Gen Z fans on TikTok.

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

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

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.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

11 people died from firework injuries in the US in 2024.

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

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

See a ranking of the best (and worst) Federal Reserve Chairs since 1914 out of the 16 men and women who have held the office since.

A 2019 Facebook event called on attendees to "Storm Area 51, They Can't Stop All of Us," resulting in countless memes, the creation of a music festival, and eventually the arrests of those who did try to approach the area.

The Nasdaq's 'Magnificent 7' companies are responsible for roughly 40% of the Nasdaq 100 index's gains, while the remaining 93 companies account for the other 60%.

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.

The distributor behind 'Rocky Horror' pulled the film from its scheduled national release, believing it would be a failure, though it eventually amassed a dedicated fanbase through midnight showings, a trend that continues over 50 years later.

Memecoins are a type of cryptocurrency—a form of digital currency with a wide variety of uses—created around popular 'memes,' or viral internet jokes.

In 2019, a laptop loaded with six of the worst malware in history and described as 'an exhibit of historical weaponry' sold for $1.3M.

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.

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

In 2026, Finland was named the world's happiest country for the ninth consecutive year based on its wealth, social safety network, and high life expectancy, among other factors.

Use this tool to calculate the dollar value of your parental mental load, from meal planning to coordinating after-school care, then see resources that help generate solutions.

See how Budweiser's famous Clydesdales spend their days at Warm Springs Ranch, where roughly 70 to 80 of the beer brand's giant horses can be found at any given time.

Browse a detailed visual analysis of over 200,000 similes—comparisons that often use 'like' or 'as'—from popular fiction to see how frequently writers the same idiomatic expressions.

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

When caught in the mouths of cardinal fish, seed shrimp release glowing, bioluminescent chemicals, which alert predators of the cardinal fish, prompting the shrimp's ejection.