Name calling isn’t an argument
March 1, 2010 | South Carolina | Comments (1)Christopher George over at the Spartanburg Spark is gleefully tossing around the terms “usury” and “predatory” with regard to payday lenders. Someone needs to fact check–payday loans cost just enough to cover the cost of origination and are not wealth reducing. They’re actually one of the most affordable forms of short term credit, but don’t let the facts interfere with a good story, Mr. George.
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How can someone characterize the payday product as predatory, when there is full disclosure?