Don’t shut down payday lending in VA
May 9, 2009 | Daily Press, Virginia, industry, regulation | Comments (0)Center for Consumer Freedom’s Tim Miller takes on a payday lending critic in the Virginia Daily Press:
A New York Times Magazine article last year noted that payday loans are a valuable financial tool, offering easy-to-understand conditions, with “no surprises, no hidden fees,” unlike many banks (who are not demonized by elitist politicians, despite their hidden fees).
Shutting down the short-term payday loan industry only forces these borrowers to resort to less desirable alternatives to make ends meet.
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