Editorial board supports free markets, we think
March 10, 2009 | Kentucky, industry, media coverage, regulation | Comments (0)Not sure what to make of this editorial out of Kentucky:
At the industry’s request, the Senate State and Local Government Committee last week approved a 10-year moratorium on new payday loan outlets opening in Kentucky.
The effect would be to protect the companies that are already here from new competition and preserve their market shares.
It does nothing for consumers, who turn to the short-term lenders when they need cash to, for example, keep the lights and heat on or avoid a bounced-check fee.
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