Choking the Poor: Investors Daily Business

Choking the Poor: Investors Daily Business - Payday Loan Industry

Published: Sun, 02/02/14

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Choking the Poor: Investors Daily Business. January 27, 2014.

By: Jer Trihouse. In case you missed it, Investors Daily Business wrote
an editorial about the Obama administration's determined efforts to
eliminate the payday loan industry. IBD's point was, "By driving
payday lenders out of business, the administration will just end up
hurting the working poor it deigns to protect."

IDB points to a study by the Federal Reserve Bank of New York that
found that "cutting off the supply of payday credit only worsens
consumer credit problems. After Georgia and North Carolina banned
payday lenders in the last decade, more consumers bounced checks and
filed for bankruptcy than did borrowers in states that allow payday
lenders."

According to the Federal Reserve Study, "after Hawaii enabled..."

Read more access the IDB piece and save the industry:
http://paydayloanindustryblog.com/?p=2362