No “bulldozing” reform
May 27, 2010 | Ohio, industry, regulation | Comments (0)I don’t understand the headline of this editorial from Ohio, but I get the drift of what they want:
The intent of the reforms, however, is not to shutter all of the corner-store, fast-cash businesses. Clearly there is a need for quick short-term loan services, or payday lending would not have mushroomed into a growth industry in the state and the nation.
Intent aside, if the result is that payday lending stores close, then it’s not “reform,” it’s a ban.
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