http://paydaypundit.org/2008/06/27/the-economy-and-the-economy-and-the-economy/ 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 http://paydaypundit.org/2008/06/27/the-economy-and-the-economy-and-the-economy/comment-page-1/#comment-377 Chris Fri, 27 Jun 2008 19:52:44 +0000 http://paydaypundit.org/?p=772#comment-377 Wow! You obviously have no clue as to what you discuss. Prior to the elected leaders legislating a business out of existance Ohio had some of the most effective laws on the books. They required that all loans must be paid in full and the customerscould enter into another transaction until the following business day. This and the equivilant fees of $15 per $100 borrowed were some of the lowest fees in the country that still allowed a company to exist. A payday loan or small, short-term loan is not a vehicle to trap a customer in a cycle of debt as ultimately all parties lose, but instead it was and is a product that is coveted and demanded by the consumer while being shunned by the traditional lenders. Free enterprise is a wonderful thing when it allowed function as intended and not interfered with by "do-gooders" that fail to listen to the masses. Wow! You obviously have no clue as to what you discuss. Prior to the elected leaders legislating a business out of existance Ohio had some of the most effective laws on the books. They required that all loans must be paid in full and the customerscould enter into another transaction until the following business day. This and the equivilant fees of $15 per $100 borrowed were some of the lowest fees in the country that still allowed a company to exist. A payday loan or small, short-term loan is not a vehicle to trap a customer in a cycle of debt as ultimately all parties lose, but instead it was and is a product that is coveted and demanded by the consumer while being shunned by the traditional lenders. Free enterprise is a wonderful thing when it allowed function as intended and not interfered with by “do-gooders” that fail to listen to the masses.

]]> http://paydaypundit.org/2008/06/27/the-economy-and-the-economy-and-the-economy/comment-page-1/#comment-376 John Fri, 27 Jun 2008 18:42:00 +0000 http://paydaypundit.org/?p=772#comment-376 Elected leaders in Ohio chose to reform an industry gone wild and encourage fair lending with reasonable interest rates. Payday lenders should have no trouble operating at 28% interest. A product designed to trap individuals in debt and keep them coming back for more, is not a good thing for our economy. Elected leaders in Ohio chose to reform an industry gone wild and encourage fair lending with reasonable interest rates. Payday lenders should have no trouble operating at 28% interest. A product designed to trap individuals in debt and keep them coming back for more, is not a good thing for our economy.

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