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Nickelless
Administrator
USA
5580 Posts |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/02/2009 : 18:43:36
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| Ohio recently voted (public) to place stricter regulations on them. They had plenty of money to fight it but they still lost. They threaten to pull out of Ohio if they lost but not a one of them has in my area. They still are doing very well it appears. Lot's of money to be made in the alternative-banking business too. |
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Think positive. |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
 Posted - 04/02/2009 : 22:02:28
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The lawmaker, Rep. Luis Gutierrez, D-Ill., says his bill does have crucial protections for borrowers and represents the best deal he can manage in the face of the industry's aggressive lobbying.
Whore. |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 04/02/2009 : 22:05:08
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| Anything that can charge over an insane amount is a B.S Scam and should be shut down. |
Trolling is an art. |
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Carbonic Chris
Penny Sorter Member
USA
40 Posts |
Posted - 04/02/2009 : 22:49:15
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"Ohio recently voted (public) to place stricter regulations on them"
I believe that it passed by a fairly large majority if I remember correctly...
Every state wide issue that I voted on in Ohio went the other way. :( |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 04/03/2009 : 04:56:28
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quote:
Originally posted by Neckro
Anything that can charge over an insane amount is a B.S Scam and should be shut down.
Are you referring to GM??
The issue isn't that payday loan places charge extremely high interest rates--the issue is that they have a market, and the real issue is what factors lead to them having a market in the first place. Is it because people are force-fed messages that they need to spend, spend, spend to stimulate the economy, thus leaving them with nothing to fall back on when emergencies hit? Eliminating payday lenders won't stop the demand for such services. Eliminating them would get rid of a symptom but not address the cause, which I'd guess more often than not is poor personal money management. My mother is a classic case--she is the office manager for a medical business but she is terrible at managing her own money and has gone to payday lenders probably more times than she'd care to admit. What she needs, and what probably millions of other Americans need, is basic financial know-how, assuming the will exists to learn and adhere to such principles. |
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Payday lenders lobbying to fight regulation
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