Good letter
February 10, 2010 | Arizona, industry, regulation | Comments (0)In the Prescott Daily Courier:
Short-term “payday” lenders have been under attack by state and federal lawmakers who denounce their services as “predatory” (“Tobin’s bill would extend payday loans with new rules,” Jan. 13). But across the country, borrowers in need of emergency cash choose these loans willingly over other financial options. Research by a Federal Reserve economist found that 88 percent of short-term borrowers are satisfied with their loans.
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