Wendy Davis said payday lenders profit by charging 1,000-plus percent interest.
Half True, we concluded, finding average effective interest rates to be lower.
Nathan Bernier of Austin’s KUT, 90.5 FM, quizzed us about our work.
Listen by clicking the play button to the right.
Our Sources
Truth-O-Meter article, "Certain payday loans had effective interest rates of more than 1,000 percent for part of 2012," PolitiFact Texas, Jan. 8, 2014