Exploring How Businesses Can Limit or Give Freedom
After brainstorming ideas that relate to how businesses can limit or give freedom to certain groups, we decided to discuss the payday loan industry to greater understand the argument that payday loan advance companies take advantage of low income areas. Indianapolis and the suburbs surrounding the city consist of many different economic class environments with Carmel on the high side of the spectrum and Speedway as one of the lowest. Payday loan advance businesses are known to take advantage of impoverished areas and use outrageously high interest levels to collect money from individuals who already have a low income. Tying in the freedom aspect, the companies know that often these low income individuals do not have another choice but to borrow at a high interest rate because there will be economic consequences if their bills are not paid on time.This website explores the statistics, history, and consequences of the payday loan industry.