> In reality, it will simply remove another option from people who have very few. Their argument is that this is a good thing, because taking a payday loan is

> In reality, it will simply remove another option from people who have very few. Their argument is that this is a good thing, because taking a payday loan is usually not a rational economic decision, and therefore overall welfare is improved by forbidding people who stand to lose a lot from poor economic decisions from making those decisions. It's the same logic behind investor accreditation requirements. Now there are legitimate arguments to the contrary, like some of the ones you've made upthread. But let's state both views accurately.