View Poll Results: Pay day loans

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  • Regulate - Yes

    36 81.82%
  • Regulate - No

    7 15.91%
  • No opinion

    1 2.27%
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Thread: Consumer Protection Agency Seeks Limits on Payday Lenders

  1. #261
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    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by Kobie View Post
    With interest rates that are borderline criminal.
    I think they are criminal.
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  2. #262
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    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by j-mac View Post
    I think they are criminal.
    Not sure if I have this exactly right- A society is judged by how they treat their young, elderly, the weak & those that need protection.
    Those that defend this predation on the poor seem to have set this aside.
    Their scorn towards the working poor is something they should reflect upon.
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    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by j-mac View Post
    What exactly would be "predatory" if not this model?
    Who is forcing these people through the doors? Seems that everyone is willing to get into this arrangement. Where is the force? By the definition of the word, it is "seeking to exploit or oppress others". You can't oppress or exploit the willing. Try again.
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    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by JANFU View Post
    Not sure if I have this exactly right- A society is judged by how they treat their young, elderly, the weak & those that need protection.
    Those that defend this predation on the poor seem to have set this aside.
    Their scorn towards the working poor is something they should reflect upon.
    Well, I don't think it is "scorn" against the poor, or working poor per se, but rather a knee jerk reaction to protect the free flow of business, and fear that even more regulation on such a pariah as the payday loan/title loan industry is seen as further encroachment on that free flow. However, even I as a conservative/small government guy, can not in good conscience, stand by, knowing this industry as I have seen it through a family members eyes that worked in the industry, say that it is what conservatives want to protect...

    I have seen elderly people come in to these places borrowing money to buy their medication, and get caught up in the practices of roll over that put them in a real bind....As to what the answer is to these places, I don't know, but I know that these places are real scum, and need to go away.

    I would ask my friends arguing in favor of these places...If they serve such a purpose, then why do you only see them crop up in the worst parts of a city or town? Why are there none of these places in better off areas? The answer is clear, because they prey on the less fortunate in society, that's why.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by Cephus View Post
    Who is forcing these people through the doors? Seems that everyone is willing to get into this arrangement. Where is the force? By the definition of the word, it is "seeking to exploit or oppress others". You can't oppress or exploit the willing. Try again.
    The "force" is in a promise of "easy money"... A lure that is hard to turn down when financially people are in trouble. The exploitation is in the confiscatory interest rates on payback that keeps them trapped in the cycle of paying interest while never paying off the original debt.

    I understand your feelings of people getting themselves in this mess, but let's think for just a moment about who, and what areas these businesses target...Usually, less educated, day work areas, that maybe don't make the best decisions to begin with. Not bad people, just uninformed...

    So, if I get where you are coming from, they make poor decisions, so screw em'! I'm sorry, I am just not that callous. I don't like government regulation anymore than you do for legitimate business...I am just not sure these places are legit.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by Cephus View Post
    The poor have EARNED that pricing model by proving to be so completely and totally unreliable. Geez, you are clueless, aren't you?
    Yes, I agree. The most vulnerable people deserve to have that vulnerability targeted!
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    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by tres borrachos View Post
    For people with bad credit, no collateral, needing money in an emergency, they serve a purpose.
    So does the mob. One, however, is clearly illegal and the other simply immoral.

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    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by Deuce View Post
    Yes, I agree. The most vulnerable people deserve to have that vulnerability targeted!
    They're the ones who have cut off all of their other options by being irresponsible. So now you want even this option removed? What will you replace it with? The need isn't going to go away, just because *YOU* don't like it.
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    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Looking at those poll numbers, at least on this issue, there are some tight screws at DP.
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    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by Cephus View Post
    They're the ones who have cut off all of their other options by being irresponsible. So now you want even this option removed? What will you replace it with? The need isn't going to go away, just because *YOU* don't like it.
    Does it need to be 400 + % in some cases?
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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