BANKTHINK

FEEDBACK

Payday-Loan Foes Give Valuable Product a Bum Rap

Print
Email
Reprints
Comment (1)
Twitter
LinkedIn
Facebook
Google+

JOIN THE DISCUSSION

(1) Comment

SEE MORE IN

RELATED TAGS

'We Don't Want to Wage this Proxy Contest in the Gutter': Week's Best Quotes

The most notable quotes from American Banker stories of the previous week. Readers are encouraged to add their own observations in the Comments fields at the bottom of each slide.

(Image: Fotolia)

Comments (1)
The problem with most regulatory initiatives and legislation favored by consumer advocates is that they usually fall under the rate-cap umbrella, to ameliorate the trumped up triple-digit APR charge. If lenders could make these loans at a fraction of what they charge, they wouldn't need laws to make them do it; they would do so because they would make a killing serving this market. These loans are expensive for no other reason than they are costly and risky. All the consumer activism and spin in the world can't change that.
Posted by tatkins | Friday, February 22 2013 at 2:22PM ET
Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
Email Newsletters

Get the Daily Briefing and the Morning Update when you sign up for a free trial.

This feature displays payments industry news and analysis from American Banker sibling brand PaymentsSource. Registration is required; for more information contact customer service.

TWITTER
FACEBOOK
LINKEDIN
Already a subscriber? Log in here
Please note you must now log in with your email address and password.