I don’t get it
March 19, 2010 | Missouri, industry, regulation | Comments (0)What’s with this legislator? From the story out of Missouri:
Since Democrat Mary Still’s bill seeking tighter controls on the payday loan industry has yet to be assigned to a legislative committee for hearings, she decided to hold hearings on her own.
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But Tom Linafelt, director of communications for QC Holdings — the company the operates Quick Cash — told the News Leader prior to the hearings that payday loans are meant to be short-term loans for just two weeks. He contends that focusing on the APR can be misleading.”Much like you wouldn’t take a cab across the state or rent a hotel room for a year, neither would you take a payday loan for a year,” Linafelt said.
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