http://michiganmessenger.com/34239/payday-lenders-use-loopholes-to-continue-high-interest-loans The Michigan Messenger is a local news site covering politics and policy throughout Michigan. Its team delivers original reporting daily. The Michigan Messenger is published by the nonpartisan and nonprofit group American Independent News Network. Fri, 30 Sep 2011 16:19:00 +0000 hourly 1 http://wordpress.org/?v=3.1 http://michiganmessenger.com/34239/payday-lenders-use-loopholes-to-continue-high-interest-loans/comment-page-1#comment-17462 GaryDarkst Fri, 05 Feb 2010 04:46:06 +0000 http://michiganmessenger.com/?p=34239#comment-17462 Payday lenders and employees work and pay taxes like everyone else. By capping their fees so low, they can't stay in business. The payday industry wouldn't be operating unless there was a demand for this kind of short-term credit. People need this service to get by when unexpected expenses pop up. Let's not cause them to shut down - with an interest rate cap that is an effective ban - and take away from consumers one of the most affordable credit options out there today. Payday lenders and employees work and pay taxes like everyone else. By capping their fees so low, they can't stay in business. The payday industry wouldn't be operating unless there was a demand for this kind of short-term credit. People need this service to get by when unexpected expenses pop up. Let's not cause them to shut down – with an interest rate cap that is an effective ban – and take away from consumers one of the most affordable credit options out there today.

]]> http://michiganmessenger.com/34239/payday-lenders-use-loopholes-to-continue-high-interest-loans/comment-page-1#comment-15165 GaryDarkst Thu, 04 Feb 2010 23:46:06 +0000 http://michiganmessenger.com/?p=34239#comment-15165 Payday lenders and employees work and pay taxes like everyone else. By capping their fees so low, they can't stay in business. The payday industry wouldn't be operating unless there was a demand for this kind of short-term credit. People need this service to get by when unexpected expenses pop up. Let's not cause them to shut down - with an interest rate cap that is an effective ban - and take away from consumers one of the most affordable credit options out there today. Payday lenders and employees work and pay taxes like everyone else. By capping their fees so low, they can't stay in business. The payday industry wouldn't be operating unless there was a demand for this kind of short-term credit. People need this service to get by when unexpected expenses pop up. Let's not cause them to shut down – with an interest rate cap that is an effective ban – and take away from consumers one of the most affordable credit options out there today.

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