What “vast profits?”
November 13, 2008 | Arkansas, industry, industry critics, media coverage, states | Comments (0)Why does B.S. like this creep into so many editorials about payday lending, like this one about the Arkansas check cashing law?:
The law had bounced around the courts for nine years while hundreds of companies accumulated vast profits off the travails of the poor.
The public payday lending companies, in fact, report very reasonable profits–around 8.5%–very much in line with the profits of Fortune 500 companies.
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