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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