In what way is a rule that “ requires payday lenders to check borrowers' ability to pay” misconceived? Payday lenders have a perverse incentive to ensure that

In what way is a rule that “ requires payday lenders to check borrowers' ability to pay” misconceived? Payday lenders have a perverse incentive to ensure that borrowers can pay the initial interest, but then have to roll the loan over, accruing more interest. Market competition doesn’t change that.