Ohio payday lenders have been in a dog fight for years now. Consumers want payday loans while consumer groups do not.
I thought this article titled “Payday loans the only way to get by, some customers say” does a decent job of covering both sides.
Here is an example of a rational comment:
Ted Saunders, CEO of CheckSmart, said he wants customers to compare his product to their other choices:
“There is a bank right there,” he said, pointing to a bank about 100 yards across the parking lot from his store. “They could go right there if they wanted to.”
Bill Faith of COOHIO compares payday loans to subprime mortgages and says:
“People at one point also were excited about high-interest subprime mortgage loans that helped ruin the housing market.”
Bill, the housing market crash happened b/c Wall Street lied to investors and the Federal Governent’s monetary policy. Put more simply, the federal reserve and the greed on Wallstreet. So what does this have to do with payday loans?????? Nothing!
