Since this is HN, I'd like to emphasize that this industry is not just in strip malls. It's very prominent in apps and websites now, too. Many VCs fund "short t

Since this is HN, I'd like to emphasize that this industry is not just in strip malls. It's very prominent in apps and websites now, too. Many VCs fund "short term" loan apps who's bread and butter are repeat customers (e.g. poor people caught in the high interest loan cycle of death). I don't theoretically have a problem with short term loans for one-off emergencies, but if you're living paycheck to paycheck, emergencies happen all the time and it's incredibly easy to get sucked into a downward spiral and become a "repeat customer". So, I can't see how private industry can fundamentaly solve the short term loan problem, because they will always want repeat customers. Anyway, just because the photo in the article is a street corner payday lender, please don't think this leeching industry isn't in the virtual world as well.