Some people will never understand
March 28, 2011 | Missouri, Rate Caps, State legislation | Comments (0)A St. Louis op-ed writer just doesn’t get it:
The payday loan industry in Missouri claims it is providing a service, making short-term, unsecured loans to people who otherwise would be unable to get credit. But states where interest rates have been capped at 36 percent still have people who need short-term loans. They get them from responsible lenders who are happy to operate under the new caps.
Actually, in states where payday loans have been banned have seen spikes in unregulated lenders and other negative affects.
Comments»
No comments yet.