Payday Pundit

Bonnie Schoenberg, an Illinois payday lender, has a letter today in the Daily Herald: 

If responsible short-term loans are shut down for people outside the credit mainstream, they will have no choice but to turn to high interest credit cards and unregulated Internet loans (at rates in excess of 600 percent) or succumb to costly bank overdraft and bounced check fees.

Ms. Schoenberg is frequently out front defending the payday lending industry.