Reining in Unscrupulous Payday Lenders

(AP Photo/Ryan J. Foley, File)

(AP Photo/Ryan J. Foley, File)

(AURN/Washington) — President Obama has been concerned for a while over issues of abuse by the pay day loan industry.

Now he is creating a new position focused on cutting into the financially destructive behaviors of some payday lending offices. White House Correspondent April Ryan has the story. LISTEN: 

President Barack Obama spoke about the economy and payday lending, Thursday, March 26, 2015, at Lawson State Community College in Birmingham, Alabama.

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