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"It makes no sense at all to try and regulate the profits of payday loans and pawn shops." I agreed with you up to that point. Regulating them IS the point of
by hartror 16y ago
"It makes no sense at all to try and regulate the profits of payday loans and pawn shops."
I agreed with you up to that point. Regulating them IS the point of allowing them, as long as the laws aren't draconian this will stop the bulk of these types of arrangements happening on the black market.
- brc 16y agoI'm all for regulating the businesses - who can own them, the sorts of contracts they can write, where they can operate, just like any other business. I said I'm against regulating the profits - in other words, let them set their own charges and interest rates.