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John Oliver & Sarah Silverman on Payday Loans

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HBO’s John Oliver (Last Week Tonight) takes a hard look at the payday loan industry. Sarah Silverman helps out with this hilarious spoof commercial in which … […]

John Oliver and Sarah Silverman Tackle Payday Loans

Tuesday, August 12, 2014

John Oliver and Sarah Silverman Tackle Payday Loans

By Kprofs2013


On HBO’s Last Week Tonight, John Oliver was joined by Sarah Silverman and they took on the payday loan industry. Here’s the clip (NSFW, especially Sarah Silverman’s bit at the end):

From the pseudo PSA at the end of the clip: “Hi, I’m Sarah Silverman. If you’re considering taking out a payday loan, I’d like to tell you about a great alternative. It’s called ‘anything else.’ The way it works is, instead of taking out a payday loan you literally do anything else.”

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VIDEO: HBO's John Oliver Goes After PayDay Loans | Bank Innovation

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John Oliver has taken on some controversial topics on his new HBO show, Last Week Tonight. This time, he and Sarah Silverman take on payday loans.

Payday loans have been a hotly debated topic, with many saying that payday lenders are just loan sharks that take advantage of those looking for loans. The U.S. industry is a $27 billion business, but with interest rates charging 1,900% or more for these loans, lenders are using regulatory loopholes to make repaying harder for those less fortunate and get them stuck in a cycle of borrowing.

Here was Oliver’s take: “Basically, payday loans are the Lay’s potato chips of finance. You can’t just have one. And they’re terrible for you.”

Sarah Silverman came on to show Last Week Tonight’s “commercial” for its ideal payday lender, a company called “Anything Else.”

Check out the video below:

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John Oliver on Payday Loans (Video)

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John Oliver on Payday Loans (Video)

Featured, LOL, Pop Culture — By on 2014/08/11 1:37 PM

Main topic from Sunday night’s Last Week Tonight with John Oliver on HBO was predatory lending, also known as payday loans industry:

Previously from Last Week Tonight:

John Oliver on Native Advertising (Video)

Tags: , , , , , , , , , Tweet This Share on Facebook Digg This Bookmark Stumble RSS Feed […]

Sarah Silverman Joins John Oliver in Tearing Apart Payday Loans …

In case you’ve missed it, John Oliver continues setting aside at least half of each episode of Last Week Tonight as a time to educate viewers about important topics they won’t hear much about elsewhere. HBO continues being cool by putting these 15-plus–minute segments on YouTube for everyone who might not have HBO.

For his latest lesson, Oliver spends 14 minutes explaining payday loans and then shutting the concept down completely, based on everything from the loan companies’ terrible names and celebrity spokespersons to the way that they ruin customers’ lives with their bad practices. He then turns it over to his own celebrity spokesperson, Sarah Silverman. Watch the entire thing below.


John Oliver, Sarah Silverman Have Some Words For Payday …

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John Oliver took on the obviously hilarious topic of payday lending on Sunday’s Last Week Tonight, and once again proved that it’s possible to do some really smart advocacy journalism in a comedy format and make it work — almost as if he thinks that comedy can do more than just give us a cheap laugh or something. And with payday loan outlets more plentiful than either Starbucks or McDonalds, it’s probably worth looking at — especially since payday loans are the financial equivalent of fast food, except you only pay for your McAnusBurger once or twice.

So watch this thing, and prepare to be amazed at the incredibly adaptive and creative ways the payday-loan biz has evolved to outsmart attempts to regulate it. For instance, in Arizona, the companies just started doing “title loans” — so they could rip people off AND take their cars — and in Ohio, they morphed into “mortgage lenders,” offering home mortgages for $400 or so. And of course in Texas, the industry has it figured out — the people who “regulate” payday lenders all work in the payday loan industry. Talk about filling an evolutionary niche!

Also, Sarah Silverman stars in a counter-ad for the best possible alternative to taking out a payday loan: Literally Anything Else.

Related […]

Learn About Payday Loans with John Oliver and Sarah Silverman …

Late Night

Learn About Payday Loans with John Oliver and Sarah Silverman


| August 11th, 2014

Here’s a clip from last night’s Last Week Tonight, in which John Oliver breaks down the corrupt payday loan industry — or as he describes it, the “recycling symbol of human misery” — with a little help from Sarah Silverman in the form of a counter campaign ad.


Sarah Silverman and John Oliver hammer payday loan industry …

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Sarah Silverman and John Oliver hammer payday loan industry ‘motherf*ckers’

By Tom Boggioni
Monday, August 11, 2014 7:34 EDT

On this week’s edition of HBO’s Last Week Tonight, host John Oliver was joined by Sarah Silverman to take on America’s predatory payday loan industry “motherf*ckers.”

Calling attention to the virtually unregulated industry capable of charging up to 1700 percent interest on short term loans which fall disproportionately on the poor, Silverman advised doing anything else rather than “dealing with these payday loan motherf*ckers.”

Pointing out that the payday loan businesses — which grants short term loans at exorbitant interest rates– is a $9 billion industry, Oliver noted that there are more payday loan stores in America than Starbucks and McDonalds.

“McDonalds!” Oliver exclaimed, “I didn’t know there was more of anything in the U.S. than McDonalds, including people and grains of sand.”

With more the three quarters of borrowers having take out an additional loan before they are able to pay off the original loan, Oliver explained, “Basically, payday loans are the Lay’s potato chips of finance: you can’t have just one, and they’re terrible for you.”

When it comes to regulation of the industry, Oliver points out that, for all practical purposes there is none.

Legislators own payday loan businesses themselves — disregarding the obvious conflict on interest — and governors such as Texas Governor Rick Perry appointing payday loan industry executives to head the very state boards overseeing their business.

Launching a “counter-campaign” using a celebrity spokesperson promoting “anything else,” Oliver introduced Silverman.

“Hi, I’m Sarah Silverman. If you’re considering taking out a payday loan, I’d like to tell you about a great alternative,” she advised. “It’s called ‘anything else.’ The way it works is, instead of taking out a payday loan you literally do anything else.”

Silverman suggested selling sperm or blood, or throwing yourself in front of a “rich guys’s car”: “He’ll throw money at the problem, just to make that shit go away.”

Silverman also had advice for old people, telling them to just take things because they won’t be sent to jail, “Go to the grocery store right now, fill up a cart with everything you need and walk the f*ck out of there.”

“The point is, no decision in your life will be worse than dealing with these payday loan motherf*ckers,” Silverman concluded. “They’re motherf*ckers, they’re f*ckers of mothers. So, if you’re thinking of getting a payday loan, just simply pick up the phone, and then put it down again and do literally anything else.”

Watch the video below from Last Week Tonight:

Tom Boggioni

Tom Boggioni is based in the quaint seaside community of Pacific Beach in less quaint San Diego. He writes about politics, media, culture, and other annoyances. Mostly he spends his days at the beach gazing at the horizon waiting for the end of the world, or the sun to go down. Whichever comes first.


Payday loan leeches: Suicide dad hounded for cash as he lies in hospital


A PAYDAY loan firm chased a desperate dad of two for ­repayments as he lay in ­hospital after trying to take his own life over his mounting debts.

Staff at The Cheque Centre pestered him on his mobile phone despite being told by his frantically worried wife he had taken an overdose over his money problems.

They told her they would put his payments on hold while he recovered… but then swiped incoming money from his bank account three times in one day.

They even took one transaction of only £5 in their ruthless bid to claw back a loan of less than £200.

A friend of the family said: “His wife was astonished and couldn’t believe they were doing this. The reason he was in hospital was because he took an overdose through the stress of the debts and now he was getting more hassle.”

The astonishing behaviour of the controversial firm – which has turned over £615million in five years – was blasted as “sickening” last night.

Campaigning Labour MP Stella Creasy said: “It shows how out of control these companies are and the damage they are doing in their quest for profits from hard-pressed families. Further rises in the cost of living next year will mean more people seeking credit.

“The Govern­ment can’t expect us to put up with this kind of sickening behaviour from these companies for another year.”

The couple’s ordeal emerged after a Sunday Mirror investigation ­revealed how the US-owned company targeted vulnerable benefits claimants for loans, even approaching mums with prams in the street as they handed out Cash for Christmas leaflets.

Tempting: A Cheque Centre leaflet

Steve Bainbridge

They charge them sky-high interest and the deals allow them to debit money from accounts up to six times a day if repayments are not met.

The dad-of-two took out his first payday loan with a local Cheque Centre shop in the south of England for £100 with £25 interest. It was to be paid back in seven days because he was on a weekly wage.

He repaid that and a second loan for £125 on time. But just a few days after he took out a third loan, his distressed wife called the shop to explain her husband had been rushed into ­hospital after an overdose.

It is understood he had other loans elsewhere and was struggling with repayments. His wife told Cheque Centre staff she was worried about their loan because he couldn’t work to repay it. She was told it would be put on hold until he recovered.

The friend said: “She made it clear her husband owed a lot of money to different firms and the stress had made him take an overdose. She was given reassurances and told they would do a payment plan.”

But about two weeks later the company began swiping money from his account.

The friend said: “She was very angry. She couldn’t believe they were taking money out of the account after she had explained the situation.

“She was also furious when they called her husband’s mobile in hospital. They called about four times and eventually got through, telling him he needed to come in and pay his debt.”

The friend said around £50 was “swiped” from their account to reduce the debt, which included a £30 surcharge.

The husband spent a few weeks receiving treatment in hospital. It is understood a payment plan was later provided by the company and the debt was settled.

A senior manager at the Cheque Centre said: “We will investigate this matter. But we must stress there are systems and processes in place to ensure all of our customers are treated fairly.”

The friend said: “This person is the sort who needs proper help and shouldn’t be given loans by these companies. He is OK now, but it could have been a lot worse.”

Len McCluskey, leader of Britain’s biggest public sector union Unite, said: “Tragically, this is yet another shameful example of how callous some of these legal loan sharks can be in pushing people to the edge.”

“The Office of Fair Trading needs to come down hard on companies like the Cheque Centre to stop their menacing tactics and morally bankrupt practices.”

The Cheque Centre’s representative APR interest is 1,410.33 per cent and a loan fee is fixed at a rate of £25 per £100 borrowed.

The OFT has carried out a major investigation into the payday loan industry, worth £3.5 billion a year, and is due to reveal its findings next month.

Personal finance expert Martin Lewis, who runs the moneysavingexpert website, said there needed to be sweeping changes to protect people against some payday loan companies.

“This is very close to an underworld of lending,” he said. “We are the crock of gold at the end of the rainbow for many of these firms who can do what the hell they like.”

New laws are needed to save customers from the fate suffered by 18-year-old Oliver Scott. In September 2011, he committed suicide because of the debts he owed payday loan companies after becoming addicted to bingo hall gambling.

Oliver, of North Stifford, Essex, used his phone to access a series of quick-fix loans, getting the money in less than 30 minutes. He died after being hit by a train.

His dad Geoff said: “Oliver was not an idiot. He could explain everything about APR and interest rates to you. All he used to say to me was, ‘It’s just like pressing a button. It’s not real money’. When you fall into that trap there is no way out.”

A Samaritans spokesman said: “One in six calls to us over the last year concerned some kind of financial problem.”


Payday loan debts killed our son, 18 – The Sun

THE devastated parents of a teenager who committed suicide have said the 18-year-old took his life because of the spiralling debts he owed payday loan companies.

Now Geoff and Dawn Scott are calling for a cap on sky-high interest rates charged by lenders such as Wonga.

Bright IT apprentice Oliver — known as Ollie to his mates — committed suicide in September, seven months after admitting to his family he had become addicted to gambling at bingo halls.

To fund his habit, Ollie used his smartphone to access a series of quick-fix loans — some with interest as high as 4,214 per cent — with the money in his account in less than 30 minutes.

His mum Dawn said: “I think you’re not mature enough at 18 to borrow. Kids with computers and iPhones can just touch a button. It’s not real.

“When I wanted a loan for a car when I was starting off I went and saw a bank manager.”

Ollie — who was a popular and exceptionally clever lad, passing at least 14 GCSEs — took loans out with payday loan providers Wonga, Cash Genie and Toothfairy Finance.

But tragically the repayments became too much and he was killed after being hit by a train.

Interest accumulated so fast that Geoff and Dawn, of North Stifford, Essex, still don’t know the true extent of Ollie’s debt, although Geoff paid off almost £4,000 while his son was alive and demands totalling more than £2,500 have arrived since his death.

Payday lenders offer anything up to £1,000 a time without the need for a full credit check. The recession has led to a boom in the sector as Brits struggle to meet day-to-day living costs.

Geoff, who works as a chauffeur in London, said: “I could not believe someone with his intelligence would do this.

“Oliver was not an idiot. This is someone who could explain everything about APR and interest rates to you.

“All he used to say to me was: ‘It’s just like pressing a button. It’s not real money.’ When you fall into that trap there is no way out.”

After Oliver’s tragic death letters addressed to him arrived from different payday lenders and debt collection agencies. They included a bill from Toothfairy Finance, dated September 17, totalling £866, and a demand from Cash Genie for £125.

Geoff had to then fax a copy of the coroner’s statement to these companies.

The couple, who have two younger children, believe Ollie’s death highlights the dangers that these loan companies pose to a computer-savvy generation where cash is just a touch-screen away. Both believe the Government should insist on capping interest rates.

Geoff said: “The Bank of England base rate is just 0.5 per cent, a mortgage could be up to five per cent and a credit card 19 per cent.

“So how did someone come up with 4,200 per cent and authorities agree it legally? That’s what I’m annoyed at.”

Childminder Dawn added: “Ollie was on a computer from an early age. He found it so easy and was very intelligent. The kids of today, it’s not real to them.”

Last week we reported that Wonga have been told to clean up their act after being slammed by the Office of Fair Trading for harassing borrowers.

When asked about Ollie’s death, Wonga said: “We were greatly saddened to hear of Oliver’s passing and our hearts go out to his family.

“We don’t know the full circumstances surrounding this tragedy, but we can confirm he was a customer and that all loans were settled.

“The last loan repayment has since been refunded and we closed the account as soon as we were made aware of the situation.”

Peter Tuvey, managing director of Cash Genie, said: “Cash Genie adheres to a lending policy which includes strict lending criteria such as detailed credit reference checks and financial assessments. We also have a dedicated financial solutions team should any client fall into financial difficulty.”

Toothfairy Finance declined to comment.

No heating by 2015

SOARING energy prices mean many Brits will be unable to afford to heat their homes in just THREE YEARS time, experts warned yesterday.

The average household energy bill will break the £1,500 a year barrier by 2015 if the current trend of rising gas and electricity prices continues.

And comparison website uSwitch predicts almost six in ten households (59 per cent) will go without adequate heating and almost four in ten (36 per cent) will switch their heating off entirely.

Energy bills have more than doubled in the last eight years. The average household energy bill today is £1,252 a year and will reach £2,766 by 2018 at the current rate. Almost a third of consumers say that household energy is already unaffordable.

The forecast does not take into account the cost of Government’s ambitious plans to cut carbon and switch to renewable generation.

Ann Robinson of said: “The UK is hurtling towards a cliff beyond which the price of household energy will become unaffordable.”

CUSTOMERS aged over 60 will be able to fill their Boots – to celebrate the Jubilee, the store is more than doubling their Advantage card points allowance.

From this weekend, customers born before the Coronation in 1952 will get ten points for every pound they spend on Boots-brand products, effectively a ten per cent discount.