Tag Archive | "36% APR cap"

Payday delay? Tough luck, buddy


Great editorial on the new 36% APR rate cap from New Hampshire’s Union Leader…

Starting today, hundreds of payday lenders’ employees face layoffs and thousands of their would-be customers will rack up late fees and bounced-check fees because legislators and the governor don’t approve of the type of loan they would have taken out to avoid those costs. By legislative and Lynch logic, it is better to pay a $30 bounced-check fee than $20 in interest on a $100 loan.

Payday loans often amount to a bad deal. But in some cases they make sense. Shutting down payday lenders was a disservice. The law ought to be repealed at the first opportunity.

Posted in industry, New Hampshire, positive media coverage, regulation, Union LeaderComments (2)


Advert

TOPIC DU JOUR

PREVOUS POSTS

ONLINE LOANS

1PLs Company - Payday loans online and nearby Apply for $1,000, $5,000 or $35,000 cash advance

THE DEMAND FOR SHORT-TERM CREDIT