Will Payday Loan Regulations Kill the Market?
…empirical evidence suggests that payday loans constitute a useful service. I look, for example, to Donald Morgan and Michael Strain, who show that increased access to payday loans reduces the…
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Restricting Credit for Poor People
…and prevent borrowers from renewing their loans. No one is likely to argue that payday loans are an attractive option, but when a person has no other options to turn…
It’s Official: Payday Lending, Minimum Wage Initiatives Off November Ballot
…large part because its customers cannot get credit anyplace else; payday loans are very, very expensive, but if the alternative is having your gas or electric flipped off for lack…
Payday Loan Regulations Are Misguided
…loans that end in default. If the Legislature caps payday loan rates, lenders will be forced to issue fewer of them — and then only to lower-risk creditors. And since…
Helping the Poor by Denying Them Access to Money
…for many low income individuals, but many states have already eliminated second- and third-best options like payday loans, and there is pressure for Missouri or its localities to follow suit….
Payday Loan Industry Bad; Mob Racketeering Good
…all means legislate the payday loan industry out of existence. This set of arguments about payday loans has also been covered by Show-Me Institute op-eds superior to this blog post….
There’s No Free Lunch – Even in Banking
…interest rates charged on payday loans reflect how much riskier those loans are than the typical transactions higher-income people handle at full-service banks. When a mainstream bank lends money, the…
Lack of Economic Basis For Payday Loan Limitations
…payday loans in Missouri. I never cease to be astounded at politicians, of either party, who consistently attempt to protect people from themselves and casually limit people’s freedoms as they…
Economics 101
…others. Today’s economic lesson is about the St. Louis Board of Aldermen and its proposal to limit payday loan stores in the area, as reported by the Post-Dispatch. Payday loans…
