payday loans

Ku'uwehi Hiraishi

Consumers across the country are expected to spend more than $727 billion this holiday season, according to the National Retail Federation. But for tens of thousands of Hawaiʻi residents without a bank account, shopping means high-interest loans, prepaid cards with fees, and sometimes a continuing cycle of debt.

Ku'uwehi Hiraishi

There are now more payday loan stores in Hawaiʻi than there are 7-11s. The state’s growing demand for payday loans is no surprise given the high cost of living in the islands. But with interest rates as high as 459 percent, lawmakers are demanding greater regulation. HPR’s Kuʻuwehi Hiraishi has this story.