I’ve noticed a curious thing about lawmakers. They decide that something is a problem and they pass a law to stop it. Except they never seem to think one or two or three steps further.
This article from the Austin Business Journal shows how city ordinances in Austin have chased out three payday loan stores belonging to Check n’ Go.
Were I the owner of another payday loan store in Austin, I’d b…
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1 user commented in " Anti-Payday Loan Ordinances HURT Consumers "
Follow-up comment rss or Leave a TrackbackGreat point about competition. Also, if people can’t get quick cash to pay their everyday bills – like keeping their power on or paying high bank fees – where will they turn after that? Will they have to get on welfare and who is going to pay for that?
They should look at the reasons people turn to payday loans and not just bad mouth the lenders.
Part of the reason that so many use these unsecured quick cash loans is due to the economy – which is in the toilet due to the same people who are trying to stop payday lenders.
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