Comments on: Wallet Pop: Payday Lending Part II http://paydaypundit.org/2008/04/30/wallet-pop-payday-lending-part-ii/ News and Information About The Payday Lending Industry Tue, 21 Dec 2010 17:59:56 -0800 hourly 1 http://wordpress.org/?v=3.0.1 By: Vickie http://paydaypundit.org/2008/04/30/wallet-pop-payday-lending-part-ii/comment-page-1/#comment-1247 Vickie Mon, 25 Aug 2008 00:51:09 +0000 http://paydaypundit.org/?p=213#comment-1247 Whoever would work for a payday lender cannot have a good life. You cannot hurt people in this way and think good things will happen to you. Everyone decent wants to be part of something good. This is not a good industry. Most people involved in the payday borrowing end of things hates it and wants out. Who would sign a petition knowing what the consequences are for his fellow man. Think Ohio. Whoever would work for a payday lender cannot have a good life. You cannot hurt people in this way and think good things will happen to you. Everyone decent wants to be part of something good. This is not a good industry. Most people involved in the payday borrowing end of things hates it and wants out. Who would sign a petition knowing what the consequences are for his fellow man. Think Ohio.

]]> By: Jon Schultz http://paydaypundit.org/2008/04/30/wallet-pop-payday-lending-part-ii/comment-page-1/#comment-31 Jon Schultz Wed, 30 Apr 2008 17:30:08 +0000 http://paydaypundit.org/?p=213#comment-31 In Oregon it's a 36% annual cap plus a $10-per-$100-borrowed loan origination fee. If it was just a 36% annual cap, like they're proposing in Ohio, 100% of the payday loan stores would have closed. The press in Ohio now has a good story. Either Governor Strickland is a complete moron - not being able to see what any child should be able to see, that a 36% interest rate cap will end short-term lending in Ohio - or else he is a bald-faced liar, pretending that there will still be payday lenders who can operate profitably under the 36% rate cap when he damn well knows there will not be. In Oregon it’s a 36% annual cap plus a $10-per-$100-borrowed loan origination fee. If it was just a 36% annual cap, like they’re proposing in Ohio, 100% of the payday loan stores would have closed.

The press in Ohio now has a good story. Either Governor Strickland is a complete moron – not being able to see what any child should be able to see, that a 36% interest rate cap will end short-term lending in Ohio – or else he is a bald-faced liar, pretending that there will still be payday lenders who can operate profitably under the 36% rate cap when he damn well knows there will not be.

]]>