Small Consumer Loan Politics

Payday loan providers are always under attack from government liberals. Usually the fee is about $15 for a $100 two-week loan. That’s o.k. as a temporary loan, if it is not repeated fifty two times a year, when the rate would become outlandish. There is therefore room in the economy for such emergency service.

                       

Left-leaning government observers never like this, because they think folks with poor financial ratings should get the same terms as those with top credit. Default rates are never considered as government liberals don’t foot the bills.

                       

But folks with bad credit have always needed emergency funds in good and bad times. We know why so many in the past patronized mobsters for funds, paying, enormous interest charges plus limbs and lives. as a penalty for non-payment.

                       

So when legitimate services charge what some say is too much, an attempt is made to stop the business, and go back to the old days. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)