Payday loans: countering the spin

Elizabeth Warren at Credit Slips (a great blog I just now learned of on credit and bankruptcy by six academics) has a great post touching on some of the payday loan research including the the Center for Responsible Lending (PDF link), the Center for Community Capital (PDF link) and the the bad numbers in the Donald Morgan’s study

But the best point is at the end: if bounced check charges are out of control, then [legislators] should take a look at those–not turn loose payday lenders so they can compete with banks to squeeze families harder.