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Will the Government Finally Regulate the Most Predatory Industry in America?


Business  (tags: politics, government, ethics, corruption, payday loans, predatory practices, business, dishonesty, society, politics, law, news, ethics, corporate, consumers )

Cal
- 77 days ago - thenation.com
With interest rates as high as 700 percent, many borrowers end up under a mountain of unpayable debt from predatory payday loans



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Comments

John S. (303)
Monday June 30, 2014, 5:23 am
Noted.
 

Catrin K. (166)
Monday June 30, 2014, 7:14 am
Thanks Cal .
 

Panchali Yapa (13)
Monday June 30, 2014, 11:20 am
Thank you
 

Elizabeth Nipper (70)
Monday June 30, 2014, 11:38 am
Other small loan companies are just as bad!
 

Mike m. (9)
Monday June 30, 2014, 12:54 pm
Didn't there used to be something called "Usury?"
 

Birgit W. (144)
Monday June 30, 2014, 2:12 pm
Thanks Cal.
 

Joanne Dixon (38)
Monday June 30, 2014, 2:45 pm
Lending at interest of any amount used to be usury. That's how it is described in the Bible. For it to be legalized, capitalists had to convince legal systems that lending at interest was only usury when the interest was ""excessive." So how's that working out for us? Never mind, I know the answer.
 

Kathleen Mireault (50)
Monday June 30, 2014, 3:06 pm
Noted. Thanks, Cal! Grrrr!
 

Lois Jordan (55)
Monday June 30, 2014, 5:19 pm
Noted. Thanks, Cal. Well, I guess we will find out who's really calling the shots on this soon. Seems like "usury" has become an archaic word recently, because those profiting the most don't like people knowing that word and its meaning. Yes, there used to be laws against this. But, the GOP doesn't like "regulations." Sigh!
 

Mitchell D. (131)
Monday June 30, 2014, 5:54 pm
How about: Probably not!
The human race has produced a variety of parasitic types: Priests, and their ilk, politicians, Bankers, and their ill ilk; and they are all doing just fine, thanks for asking.
 

june t. (65)
Monday June 30, 2014, 11:28 pm
these predators should be considered criminals
 

Alfred Donovan (46)
Tuesday July 1, 2014, 1:06 am
We have this problem in the UK to.It should be strictly regulated.
 

Tim L. (86)
Tuesday July 1, 2014, 6:17 am
In order to regulate these predators, you would first have to get rid of every rethuglican in congress and the Supremasist Court! Unfortunately, the money worshippers and the terminally ignorant will not allow that to happen.
 

Valerie H. (135)
Tuesday July 1, 2014, 7:53 am
Thank you Cal for this article.....
 

Charlie Rush (54)
Wednesday July 2, 2014, 9:04 pm
Thomas Jefferson said:

'The end of _democracy_ and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations'.
 
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