Random Feed wrote an interesting post today on
Here’s a quick excerpt
Senator Dick Durbin is on a quest to kill payday loans . His legislation, “Protecting Consumers from Unreasonable Credit Rates Act,” proposes a federal interest rate cap of 36% on all loans. His support for the bill is of course weak and unfounded. Less than 3% of American families use payday loans. I think Durbin should try and find another scape goat for our economic woes. Also, over 90% of repeat borrowers pay their loans back on time. That’s a far cry from bankruptcy. A Clemson

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Random Feed wrote an interesting post today on
Here’s a quick excerpt
For the middle income section of society, payday loans are a popular option. The payday loan business is currently worth about $50 billion, a far cry from the modern lending system founded by pioneer W. Allan Jones in 1993.

Read the rest of this great post here