Payday Loan Statistics – Misleading Politicians and the Media
Thomas Sowell at the National review wrote an interesting article about payday loans and the magic of numbers. In it he wrote, “A common practice in making small loans of a few hundred dollars for a few weeks is to charge about $15 per hundred dollars lent. Politicians, the media, community activists, and miscellaneous other busybodies are able to transform these numbers into annual percentage charges of several hundred percent, thereby creating moral melodramas and demands that the government “do something” about such “abuses.”
Payday Loan Profits – Cash America Coninues to Grow and Prosper
So… the big, sophisticated guys and, from what we hear, many of the small players operating under the radar, continue to expand to increase market share and to achieve record profits. It appears they’re certainly not sitting on the side lines at this juncture in the economy.
