AOL DailyFinance picked up the Moebs report, and in it the CEO G. Michael Moebs said this:

“The surprise is, no matter how much government tries to regulate and legislate away this small loan market, it keeps coming back,” says Moebs. “People want and need a funding safety net.”

AND CONTINUED FROM THE STORY:

“Regulators should get out of and stay out of the short term money needs of consumers — they cause more problems than solutions. Instead of trying to tell consumers what they need and how to manage their money, let the market do it,” says Moebs, whose clients include banking and savings institutions.

“The huge mistake that many make when looking at overdrafts, payday loans and pawn loans, is trying to measure it by large loan standards — namely APR. It’s like bringing a baseball speed gun used to measure the velocity of a pitch to measure the speed of a college or NFL football player. Overdrafts are measured by fee amounts, not rates.”