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

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

Some Native American tribes use their exemption from state legislation to bypass regulations on usury laws. Similar to payday lending, some tribal lenders have charged up to 600% APR on short-term loans.

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.)

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.

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.

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.

In 2014, there were more payday loan stores than McDonalds

That year, there were more than 20,000 payday lenders in the US, according to the St. Louis Federal Reserve, and 14,267 McDonald's locations. Politicians and consumer advocates frequently cited this statistic as a selling point for increased regulation.

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.

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.

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

Calculate your student loan payments

As of summer 2024, interest rates on federal student loans ranged from 6.5% for undergraduates to above 9% for loans taken out by parents (private loans can exceed 17%). The interest rate determines how quickly the amount owed grows. Use this calculator to estimate your monthly payments.

Hollywood helped fund American military activity by boosting bond sales

To help fund its WWI military activity, the US introduced Liberty Bonds—government-issued debt marketed directly to the public. Starting at $50, the campaign targeted working Americans and offered Thrift Stamps to make bond-buying more accessible. Hollywood led the charge, with stars like Charlie Chaplin and Mary Pickford boosting bond sales.

A 'debt trap' refers to the need for loans or credit to cover the expenses incurred from other debt

Debt traps can be caused by unforeseen expenses or inadequate savings and can be a brutal cycle to break. At the end of 2025, total household debt in the US reached $18.8T, according to data from the Federal Reserve of New York.

Nearly half of the discretionary funding in the US is allocated to national defense

The US accounts for roughly 35% of global military spending, with defense taking up nearly half of discretionary funds. In this discussion, Michael E. O'Hanlon of the Brookings Institution explains why these levels are so high—and how they compare historically.

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.)

Inside one of the largest US military bribery schemes

Glenn Defense Marine Asia Ltd. sprinkled US Navy officers with gifts, hosted events attended by Navy officers that were staffed by sex workers, and won millions of dollars worth of inflated military contracts to provide food, fuel, and security to Navy aircraft carriers. Leonard "Fat Leonard" Glenn Francis helmed the company. This 35-minute podcast episode is the beginning of a multi-part series sharing Francis' story from his perspective.

Tinnitus is the most common compensated claim for US veterans

Since 2003, tinnitus has been the top-ranked compensated claim among US veterans. In 2024 alone, there were more than 3.2 million awards for tinnitus. (Some users may encounter a paywall.)

The 2001 Authorization for Use of Military Force has been used by four administrations to justify military operations in 22 countries

Passed three days after the September 11 attacks to authorize the use of force against al-Qaeda and the Taliban, the 2001 AUMF has since been stretched far beyond its original scope and has been used by four consecutive administrations to justify military operations.

Banks make money by loaning customer deposits and earning interest

This means the interest you earn on your deposits is lower than what the bank earns on the same amount. Banks often keep cash reserves (though a minimum requirement was rescinded in 2020) but generally invest in government bonds, corporate securities, and loans to other banks. During bank runs, depositors withdraw more than the bank has on hand.

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.

The 30-year fixed-rate mortgage is by far the most popular in the US

The most common types of loans are conventional, jumbo, fixed-rate, adjustable, and government-backed.

The first federal student loan program began in 1958

As the Cold War heated up, federal officials recognized the need to provide financial aid to students pursuing degrees in areas critical to national security, like science, math, and engineering. These programs evolved to broadly support the general population, both increasing access to college while acting as a driver of increased costs. This six-part series takes a deep dive into the history of federal student aid.

Hawaii lived under martial law for nearly three years after Pearl Harbor

After the attack, Hawaii was placed under sweeping military rule—curfews, censorship, warrantless arrests, ID papers, and mass detentions transformed everyday life. More than 2,000 people were arrested within 48 hours of the attack, and the islands remained under martial law for nearly three years.

Experimental hantavirus vaccines and therapies, still under development, have long been funded by the US military.

The Third Amendment bars the forced housing of soldiers in private homes

The amendment was designed to address a specific grievance of the Colonies and remains the only Bill of Rights provision that has never been directly tested by a Supreme Court ruling on its merits.

529 plans have some withdrawal penalties

The IRS imposes a 10% penalty on non-qualified withdrawals from 529 college savings plans, which hold funds for education-related expenses. However, there are exceptions to the rule, including if the beneficiary dies or becomes disabled. There's also an exception for beneficiaries that receive tax-free scholarships or attend military academies.

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.

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.

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

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

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.

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.

The USPS spent $3.97B in 2024, accounting for .058% of the federal budget.

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

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

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

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.

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.

Apollo astronauts left items in the moon's 'toss zone,' including golf balls, family photos, and bags of human waste, to make room for lunar rocks.

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

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.

Children are now three times more likely to say they want to be a YouTuber when they grow up than an astronaut, with some even attending 'YouTube camps' that teach kids how to create content for the platform.

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

Power lines are dotted with large, brightly colored balls to improve the visibility of these thin wires to helicopters and small planes and help prevent potential crashes.

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.

Explore an interactive map of battles from the American Revolution, along with detailed summaries of each engagement

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.

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.

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.