The decision haunted me as I read the online bank statement. A combination of holiday spending, personal property taxes and a recent job loss caused me to overdraw my checking account.

If I didn’t come up with $200 by 7 p.m., I would bounce four checks. Each bounced check fee was about $30, for a total of $120.

In addition, my bounce protection only covers up to $350. After that amount, each check keeps bouncing until paid.

I had two options. I could cover the difference by returning every Christmas gift and pawning valuables. Or I could borrow money from a payday loan business.

I chose the payday loan option. I didn’t want to punish my children for circumstances beyond their control.

The whole column is a good read.

Missouri payday lending laws already include some of the strongest consumer protections in the country. By including limits on loans, loan renewals and associated fees, those laws protect consumers from creating a “cycle of debt” and from experiencing the kinds of annualized percentage rates referenced by industry critics.

These are the kinds of strong consumer protections the payday lending industry consistently supports.

Let’s give reasonable, hard-working Springfield-area consumers access to a variety of regulated credit options and trust them to make financial decisions based on what’s best for them and their families.