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The House Republicans may be siding with the payday loan operators who want to kill off a proposed reform of their industry, but the Daily Herald editorialized this week in favor of change.
The industry calls the proposals too stringent; there may be room for lenders to haggle with legislators over the details. But the proposals laid out in Springfield certainly represent the right direction in tighter regulation. Consumers clearly deserve greater protection than they now have.
The editorial was published a day after the paper ran a long piece about consumers caught up in payday loan nightmares.
posted by Rich Miller
Thursday, Mar 3, 05 @ 8:59 am
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The worst thing is the way these loan sharks target military families.Times are tight right now for Guard and Reserve families, with extended depoloyments cutting into their income.
The state and the military should be doing something about that.
Comment by Ralph Thursday, Mar 3, 05 @ 4:50 pm
Kneecap the payday loan sharks!
Comment by Anonymous Friday, Mar 4, 05 @ 5:16 pm
sharks dont have kneecaps
Comment by Anonymous Saturday, Mar 5, 05 @ 9:47 am