Payday Pundit

That would be Attorney General candidate Jean Welch Hill who wants restrictions on payday lenders: 
Hill called Thursday to limit the interest that payday lenders can charge to just 36 percent annual interest. She also proposed limiting the period that borrowers can “roll over” or extend loans from the current 12 weeks to just four weeks.
“A […]

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So the City Council, with time on its hands, is looking to regulate payday lenders.  From the story:
City leaders are proposing changes to the zoning ordinance that would limit where check-cashing and payday loan companies can operate in the city.
The proposal would require a half mile between such businesses, preventing them from clustering in sections […]

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I don’t understand why the anti-payday lending groups can’t wrap their heads around this one. 
Allred said potential borrowers are told twice the interest rate that they will pay, even when it’s 521 percent.
Payday lenders are extremely clear about what taking out a loan will cost.  They have to be, in many states what they tell […]

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