Newspaper opposes Lundy
June 9, 2009 | Newark Advocate, Ohio, industry, positive media coverage, regulation | Comments (1)The Newark (Ohio) Advocate says this today:
Even though Lundy’s Ohio proposal sounds rational on the surface and deserves a full hearing, we think it again crosses the line of what should be regulated and what might create new problems or implications for all lenders. It also fails to address the reality of Internet payday sites that fall outside the scope of Ohio law.
That last point is really important. If you close storefront payday lenders, Internet lenders fill the void.
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If you close storefront payday lenders, Internet lenders fill the void… AND LOAN SHARKS.