Payday lending industry, local regulations (low crime, lenders, home)

[TexasRedneck]

What so many folks fail to understand is that there is SUPPOSED to be a separation of powers. I realize that nowadays, that concept isn't so important to many - but the city has NO business regulating businesses - especially financial ones.

Do I hate the payday lenders and those like them? Absolutely - with all my heart. But to allow a municipality usurp State authority is a dangerous precedent. What should be done is to get in the faces of the state elected officials and demand action.

[plwhit]

I agree with other posters, the city should keep their nose out of private business.

Next thing you know the city will be limiting how many taco's we can order at one time.

[TexasRedneck]

Originally Posted by plwhit

Next thing you know the city will be limiting how many taco's we can order at one time.

There are those here that'll think that's a wonderful idea.

[svg210]

Thats just proof that we are getting more stupider by the hour. How in the hell should the citizens rely on their government for guidance? The sheer fact that people are eagerly awaiting for new laws and regulations just plainly scares me :\. Bottom line yes those type of businesses do prey upon the needy, but they are not forcing people to take their loans.

[lessQQmorePEWPEW]

i had a payday loan once. paid it off when my first payment was due. only needed it to fix a busted transmission.

[lessQQmorePEWPEW]

Originally Posted by BenjaminNicholas

Lenders, loan sharks and pay-per-month will always exist

since i dont use payday lenders, idc, but most of them are pay by week/biweekly...

[lessQQmorePEWPEW]

Originally Posted by TexasRedneck

educate their target demographic

well, we've already tried to educate the target demograph about drunk driving. they dont care. do you honestly think they would care about this? dey needs deir cash bro, why u hatin???


that last bit was sarcasm, since some people here seem to have sand in a place and need sarcastic remarks pointed out so they dont get 'offended'

[TexasRedneck]

Thanks for making my point.....folks go out, do things they KNOW are stupid - and it's somehow up to US to "protect" them from their own actions, made of their own free will.

I vote we give them a sign to hang around their necks, and simply sit back and watch for their next stupid move - because there WILL be one.

[FormerRocket04]

Originally Posted by TexasRedneck

Thanks for making my point.....folks go out, do things they KNOW are stupid - and it's somehow up to US to "protect" them from their own actions, made of their own free will.

I vote we give them a sign to hang around their necks, and simply sit back and watch for their next stupid move - because there WILL be one.

What are you going to do when smart people who aren't as gullible are getting screwed by companies because the people in power allow them to? When even smart people who know they have a choice, have no other choices, where are we going to be?

Yes, there are people that make stupid choices, but not all of us are as stupid. Some of us think that those payday lenders COULD be a good idea, if they had a set of rules to follow so us smart people didn't go broke because of them. The fact that these places are allowed to charge up to 300% interest proves my point that if you leave a company alone, they will put profits over people.

And just to make one more point: Not all desperate people are stupid. But stupid people desperately need watched, because they're the ones who eventually screw over the desperate people.

[TexasRedneck]

Originally Posted by FormerRocket04

And just to make one more point: Not all desperate people are stupid. But stupid people desperately need watched, because they're the ones who eventually screw over the desperate people.

Well, that certainly made sense.......