The LA Times is against updating payday lending laws in California. Big shocker. This newspaper hasn’t exactly been a bastion for consumer choice.

Proponents argue that the limit, which hasn’t changed since the loans were legalized 15 years ago, is too low to meet many of the emergency needs that can lead someone to take out a payday loan.

The Times thinks it knows what consumers should be able to borrow, what lenders should be able to charge, etc. If the state had capped the cost of newspapers at a quarter it would be a different tune.