NPR and Payday Loans

Though provoking piece on NPR about payday lending in Ohio.  You can hear the entire podcast at NPR.  The article is speaking out against the state government’s intervention and rate caps.

Good excerpt:

“Everything else equal, suppliers of goods would rather collude with each other to set a high price,” DeYoung says. The cap basically does that for them, DeYoung says. “The government has handed them a tool for colluding.”

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