Oregonians turning to internet lenders
July 6, 2008 | Oregon, media coverage | Comments (0)Who could have predicted that?
Sorry for the Sunday morning sarcasm, but this story has got the Payday Pundit riled up:
The number of stores dropped to 329 by the time new regulations went into effect July 1, 2007, and have since dropped to 81. Car title lenders, which also made small, high-interest loans using car titles as collateral, have all but disappeared in Oregon.
Hanson says the decline cost about 800 jobs in the payday loan industry and leaves Oregonians with fewer options when they get in a pinch and need a quick small loan to repair a car, prevent a utility shutoff or handle some other immediate need.
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