Citizens can make their own financial choices
April 7, 2008 | South Carolina, Times and Democrat (SC), alternatives, industry, media coverage, positive media coverage, regulation, states | Comments (0)That’s the thrust of the terrific op-ed “I’ll pay you Tuesday for payday loan today” in the South Carolina Times and Demcrat by Michael Hough of the American Legislative Exchange Council. In criticizing legislative attempts to ban payday lending, he argues than payday lending is often a better choice that alternatives. Money quote:
“Many times payday loans are used to cover utility bills and unplanned medical expenses. Without access to payday loans many consumers are left with several worse alternatives like bouncing checks, not paying bills and worst of all filing for bankruptcy.”
