Jul
24
2009
Payday Loans: Do Borrowers Know What They’re Getting?
Posted by: in Payday Loan, tags: American Families, Backlash, Borrowers, Desperation, Detractors, Excerpt, Financial Circumstances, Fly, Households, Legislation, Loan Sharks, Mortgage Brokers, Payday Lenders, Payday Loans, Random, Storefront, Swindlers, Target, Usual Suspects, Wall StreetRandom Feed wrote an interesting post today on
Here’s a quick excerpt
There’s been a lot of finger-pointing lately about who is to blame for the untenable financial circumstances of many American families. Among the usual suspects–Wall Street quants, fly-by-night mortgage brokers, the households themselves–none is an easier target than payday lenders. These storefront loan sharks are portrayed by their detractors as swindlers preying on the desperation and ignorance of the poor. A payday backlash is already well underway–Ohio recently passed legislation capping
Read the rest of this great post here
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