Now that Washington State limits loans to eight per year, there’s been a jump in Internet lending. From the story:
“Internet payday lenders who are not willing to abide by Washington law are not welcome to do business with Washington consumers,” DFI Director Scott Jarvis said. “As the state regulator, it’s our job to enforce the consumer protection laws adopted by our legislators – businesses refusing to play by the rules should take note – and be prepared for DFI to take action against them.”
God FORBID that our congressman and state legislators did ANY homework regarding the effects of payday lending or the effects of BANNING PDL’s in any given state…. then they may have known this was coming.
Oh, but they are too busy NOT reading bills and staying popular with voters and lobbyists. Shouldn’t each government official have a “sidekick” that ACTUALLY does their work for them? That way, at least SOMEONE is researching as opposed to acting on the “popularity contest” of politics?
One must find them in order to deal with them!!
These guys are incredible!! They protect people from themselves, but don’t realize that they are doing more harm than good.
good point, Curious
I am sure the internet lenders are shaking in their boots at the thought of some Washington bureaucrat sending them a threatening email.
Meanwhile you will see brick and mortar shops closing up and leaving town in the near future, if they haven’t already. Way to create jobs!