payday loan each year wound up spending. payday lenders insist they do not market their product as long-term financial solutions. none of which counts as payments towards their under lining loans. critics say that kind of business model fuels a cycle of loans and more debt. which is kind of a point. it should come no surprise that 15 states already banned high cost payday lending. why this predatory practice is not a high priority for the trump administration is anyone's gues guess. >> i want to make it clear, the new head, i invite you to have a conversation with me. why are you doing this? >> joining me now, business professor, my dear friend, scott