Payday loans fight back Cerberus in South Carolina
Roddie Burris of Columbia, South Carolina’s The State daily newspaper reports that despite what appeared to be a solid support base against the payday loan industry in that state a year ago, recent votes have proven that not only has the industry gained a stronger foothold, but consumers have made it clear to their elected officials that payday loans are a product they like and want to have the option of pursuing should they so choose.
Sure, the “cycle of debt” war cry still boils the blood of politicians who suckle upon the milk of “Sour Sams” like the Center For Responsible Lending, but it begins to sound like so much wind. A sign signifying nothing but laziness in thought and deed.
If you think that payday loans are ruining you, you need a reality check. Look in the mirror. Save your breath and look at the real problem. It would be the responsible thing to do.
But we’re talking about South Carolina
Now the critics say that loans until payday companies will continue to thrive under the regulations headed to the Senate. But why would it be bad for a legitimate business to thrive under the current oppressive economy? Do payday loan companies not provide the community with jobs? Do they not help consumers to avoid serious financial pitfalls like late fees, damaged credit and ultra-expensive checking overdraft? ... click here to read the rest of the article titled "South Carolina Won't Ban the Payday Loan"