ariel1935

Will Obama Hurt the Profitability of Payday Lenders?

No one mentioned an actual analysis of the margins for any of these PDL bloodsuckers but Household Finance had a 1% default rate when they were charging 35%. That seemed horrible in 1970 but it was all I could get. It is now mainstream. Doing business with credit unions instead of banks avoids the usury of mainline banks which matches or exceeds the PDLs at times.

Maybe they could next take up bank fees and universal default rules. and then the doubling of fines by local and state governing bodies. And then .....