Payday Pundit » Advertiser-Tribune http://paydaypundit.org News and Information About The Payday Lending Industry Mon, 21 Jun 2010 21:00:48 +0000 http://wordpress.org/?v=2.9 en hourly 1 “Legislators should protect consumers, but be wary of eliminating a crucial service” http://paydaypundit.org/2008/05/01/legislators-should-protect-consumers-but-be-wary-of-eliminating-a-crucial-service/ http://paydaypundit.org/2008/05/01/legislators-should-protect-consumers-but-be-wary-of-eliminating-a-crucial-service/#comments Thu, 01 May 2008 13:34:43 +0000 Payday Pundit http://paydaypundit.org/?p=221 So says the Advertiser-Tribune.   Key passage from the editorial:

Some Ohioans might think the loss of the payday loan industry would be a good thing. But for residents who use the service, payday loans are the only way to, for example, pay for car repairs before their next paycheck arrives.

Legislators should protect consumers, but be wary of eliminating a crucial service — unless that is their goal.

Payday loans are intended to be repaid in a matter of a couple weeks. Maybe the bill could be amended to acknowledge that — and enable and encourage borrowers to retire the debt on time.

The Payday Pundit agrees.

 

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