Even with the Consumer Financial Protection Bureau's new rules, payday loans continue to carry very heavy interest.

The real causes of the problem include (1) too low pay for workers in the US, and (2) insufficient government help (because the rich and businesses have escaped from paying tax), and (3) banks' sending credit cards to young adults, encouraging them to get deep in debt.

One of the reasons not to pay by credit card is that people tend to spend more money that way.