Payday loans help the poor
April 22, 2009 | Uncategorized, Wall Street Journal, federal legislation, positive media coverage | Comments (0)Tim Miller of Center for Consumer Freedom has a letter to the editor in today’s Wall Street Journal:
The real price of a product is how much you pay for it, not an arbitrary figure for how much you could conceivably pay over an extended time period. And short-term payday loans are actually cheaper than similar financial products like overdraft fees, credit-card cash advances, or paying bills late.
The whole letter it the must read of the day.
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