The Clarion-Ledger continues cheerleading for more reforms to the payday lending industry, saying the Senate should be shamed for lowering the cost of a $300 loan. How that’s a bad thing isn’t explained.

Under the Senate version, consumers would have at least 28 days to pay on loans from $301 to $500. On loans of $300 or less, the $21.95 fee would be reduced to $20, and consumers would have up to 21 days to pay.

 Under the House version, consumers would have at least 28 days to pay on loans from $201 to $500. On loans of $200 or less, the $21.95 fee would be reduced to $20, and consumers would have up to 21 days to pay.

The average payday loan in Mississippi is $287