New Pew report finds that payday borrowers feel both relief — and that they are being taken advantage of.

Critics of payday lending say the industry is ripe for abuse and should be tightly controlled. Commentator Tom Lehman says the practice can actually be helpful, for individuals and the financial system as a whole.

Commentator Mark Laws found himself on a "rat wheel" trying to pay off a loan to attend his mother's funeral.

Mayday, as in the international distress signal. It is from the French "M'Aider!" or "Help Me!" Payday, as in so-called payday loans, where a lo…