NPR: Inside a Payday Loan Shop

NPR runs a very interesting bog on financial issues called "Planet Money," and I say that not just because they featured my colleague Alejandra Lopez-Fernandini in a story a while back. There's a variety of content types and often there are very smart, nuanced discussions about tough issues.

This week they give an excellent example of their ability to do that, their Tuesday Podcast "Inside a Payday Loan Shop" is 25 minutes of really interesting, smart discussion about the payday loan business. I could summarize, but I really think the whole thing is worth listening to, so I'm going to recommend that those interested find the time to do that.

One of those interviewed in the podcast is Gary Rivlin, the author of the forthcoming "Broke USA." If his commentary here is reflective of the book, it should make for a really fascinating read. Something to look forward to in the coming months.

While there's a certain amount of drama surrounding the financial reform bill, as Reid said yesterday the bill seems likely to pass and a strong consumer protection agency is still in the offing. Listening to the NPR podcast reinforces my thinking that the fringe banking sector really does need to be subjected to greater scrutiny and regulation--and that regulation needs to be thoughtfully implemented and monitored so that the best interests of consumers are genuinely protected.