(Cincinnati Post) - WASHINGTON - Former employees of a Cincinnati area payday lender have criticized the company's business practices, saying they were pushed to solicit minority and low-income residents and get them to go deeper into debt through revolving loans. More...
Gov't regulation of the payday loan industry is not the answer. The gov't is all to willing to address high-interest rates and not at all willing to address the higher-than-stated rates of inflation, excessive government spending and wage stagnation which drive folks to payday lenders in the first place.