January 26, 2008
Over at Consumer Rights Watch, Mark Ireland has stated two truths about Payday lending:
1. Payday lending is a business that simply keeps people in debt, rather than provide them with an emergency safety net, and
2. Only enforcement of a comprehensive interest rate cap at or around 36 percent for small loans will solve the debt [...]
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January 24, 2008
Bill Clinton and Arnold Schwarzenegger are heading up a great initiative to get people to open bank accounts rather than use check cashing centers etc. that charge what is often a hefty a fee to cash their paycheck. In a commentary in the WSJ, they point out that: the number of check cashers, payday lenders [...]
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