The short answer is: NO. Payday loans are filling a need. The first half of the article disucsses Deveron Gibbons, who is a good lobbyist and running for mayor. He works for Amscot.
Here is what CEO MacKechnie had to say:
“There is a demand and need for these services. We have never taken advantage of a consumer and never will,”
Here is what Jean Ann Fox of the Consumer Federation of America said:
“They drain a lot of money out of the community and put a lot of consumers in a debt trap,” of “payday lenders” like Amscot.
Ms. Fox’s statement is rediculous and it shows her true colors. The woman is a communist. You can say the same thing about Starbucks. She obviously does not want anyone borrowing money, anywhere. Hey lady, it’s a free country, get with the program. Who made you president?