Payday loans are a valuable tool
February 8, 2009 | industry, media coverage, positive media coverage, regulation | Comments (0)So says a letter to the editor in the Columbian (WA) newspaper:
Shutting down the short-term payday loan industry forces these borrowers to resort to less desirable and more expensive alternatives to make ends meet. Contrary to legislators’ claims, a Dartmouth College study found that a 2007 ban on payday lending in Oregon hurt borrowers who were forced to turn to alternatives such as bounced checks, overdrafts and credit card cash advances.
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