That’s the thrust of the terrific op-ed “I’ll pay you Tuesday for payday loan today” in the South Carolina Times and Demcrat by Michael Hough of the American Legislative Exchange Council.  In criticizing legislative attempts to ban payday lending, he argues than payday lending is often a better choice that alternatives.  Money quote:

“Many times payday loans are used to cover utility bills and unplanned medical expenses. Without access to payday loans many consumers are left with several worse alternatives like bouncing checks, not paying bills and worst of all filing for bankruptcy.”

The Tribune newspaper of Greeley, CO carries a guest piece today on payday lending legislation by Michael Hough, director of the Commerce, Insurance and Economic Development Task Force at the American Legislative Exchange Council.    Hough says:

“This misguided legislation assumes that the majority of Coloradans are unable to make appropriate financial decisions without the state intervening on their behalf with heavy-handed government regulations. Colorado lawmakers should reject this legislation because it will financially hurt the state’s residents and deprive them of the freedom to take out a payday loan if they so choose.”