Comments on: We may have spoken too soon http://paydaypundit.org/2009/05/13/we-may-have-spoken-too-soon/ News and Information About The Payday Lending Industry Tue, 15 Jun 2010 10:29:51 -0700 http://wordpress.org/?v=2.9 hourly 1 By: J http://paydaypundit.org/2009/05/13/we-may-have-spoken-too-soon/comment-page-1/#comment-5015 J Wed, 13 May 2009 22:29:12 +0000 http://paydaypundit.org/?p=3111#comment-5015 The precedent wouldn't be good, but arguments can still be made to separate open ended vs. closed ended credit. As we know, open ended credit can be much more expensive and the required lending disclosures are more deceptive because the true cost of credit can be spread out over an indefinite amount of time. The article is citing growing sentiment for a cap amongst Democrats, which really isn't news. I would be more worried if they were quoting Republicans, too. The precedent wouldn’t be good, but arguments can still be made to separate open ended vs. closed ended credit. As we know, open ended credit can be much more expensive and the required lending disclosures are more deceptive because the true cost of credit can be spread out over an indefinite amount of time.

The article is citing growing sentiment for a cap amongst Democrats, which really isn’t news. I would be more worried if they were quoting Republicans, too.

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