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| Decatur, Ala. | Wednesday, May 22, 2013 |
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36% payday loan interest not enough, industry representative says
MONTGOMERY (AP) — A coalition of groups is pushing legislation to place tighter regulations on payday and title loans, including limiting interest to 36 percent annually.
The groups, including …
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Then let them close if can't survive on 36% interest rates.
Simple solution is if the other real lenders would make loans at a lower rate and on term then these loan sharks would go away.
Sometimes competion is a good thing.
Simple...If you can't pay it, don't borrow it. They are providing a service to people that banks and credit unions will not touch.