That doesn’t mean there’s no room for improving the industry. If I recall, Colorado recently (within 5-10 years) reformed payday lending towards something a lit

That doesn’t mean there’s no room for improving the industry. If I recall, Colorado recently (within 5-10 years) reformed payday lending towards something a little more lendee friendly. This lead to consolidation in the industry, but not a lack of credit. That suggests that while the market may be efficient, it will still substantively exist with a little push. As I recall, the changes were to repayment terms, requiring repayment over months instead of immediately, along with other changes.