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Re: fuagf post# 249447

Thursday, 06/09/2016 6:55:58 AM

Thursday, June 09, 2016 6:55:58 AM

Post# of 482920
From what I've read, the mafia has better interest rates than the Payday lending industry.

The best takeaway from that piece was, After studying millions of payday loans, the Consumer Financial Protection Bureau found that 67 percent went to borrowers with seven or more transactions a year, and the majority of borrowers paid more in fees than the amount of their initial loan.

In answer to Bethany McLean's question, Will Anything Better Replace It?... the obvious answer is - a lender should only loan to people that can repay. Who can disagree with that?
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