Regulating payday loans is tougher than it sounds

April 1, 2015, by John Norris

This week, President Obama was in Birmingham, and had some words about payday loan places. This industry seems to be under attack, so why don't they just reduce their rates to more reasonable levels? I don't make it a habit, but I have borrowed money from my teenage son when I have been short on both cash and time. Without fail, I repay him the next day plus the $1 he requires. Of course, I...

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Some Common Cents for March 27th 2015

March 30, 2015, by John Norris

On Thursday afternoon, the President was in Birmingham, and outlined some of his Administration’s plans to impose greater regulatory oversight on what is known as the “payday loan” industry. Why Birmingham? Well, we have a lot of the places in our metro area and state, I mean a whole lot, an embarrassing amount really. In some sections of town, they are one of the few open businesses, apart from maybe a thrift store and a...

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