Is there some legal requirement that #PaydayLoan providers must charge staggeringly exorbitant fees? Couldn't a payday #loan place just charge.. reasonable rates?
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There used to be caps on interest rates - federal caps, so states couldn't override them and allow predatory lending. Then came Ronnie Raygun, and he got rid of all those terrible regulatory burdens that tied the hands of loan sharks everywhere.
@ScottSoCal Ah, good ol' Saint Ronny.