Comments on: Unintended consequences cont…. http://paydaypundit.org/2010/09/29/unintended-consquences-cont/ News and Information About The Payday Lending Industry Tue, 21 Dec 2010 17:59:56 -0800 hourly 1 http://wordpress.org/?v=3.0.1 By: Arthur Ham http://paydaypundit.org/2010/09/29/unintended-consquences-cont/comment-page-1/#comment-12675 Arthur Ham Thu, 30 Sep 2010 17:58:45 +0000 http://paydaypundit.org/?p=11085#comment-12675 The guy couldn't make a profit doing 8 loans a year per customer? His revenue was down 60%, which might be construed to mean that before the limits the average customer at this chain had 20 loans a year! So much for the "occasional, short-term use" you guys peddle to the media. You can't stay in business unless a sizable fraction of your customers borrows again and again and again and again.... The guy couldn’t make a profit doing 8 loans a year per customer?

His revenue was down 60%, which might be construed to mean that before the limits the average customer at this chain had 20 loans a year!

So much for the “occasional, short-term use” you guys peddle to the media. You can’t stay in business unless a sizable fraction of your customers borrows again and again and again and again….

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