I looked into all this roughly two months ago when a user in the financial industry responded to Elizabeth Warren's proposal for the government to handle payday

I looked into all this roughly two months ago when a user in the financial industry responded to Elizabeth Warren's proposal for the government to handle payday loans. Here he outlines why they don't work - http://www.reddit.com/r/progressive/comments/1wygov/elizabeth_warren_proposes_replacing_payday/cf7tgns http://www.reddit.com/r/progressive/comments/1wygov/elizabet... The next reply goes into their cost effectiveness - http://www.reddit.com/r/progressive/comments/1wygov/elizabeth_warren_proposes_replacing_payday/cf7ukod http://www.reddit.com/r/progressive/comments/1wygov/elizabet... Now if you don't want to believe "some user on Reddit", take into account that those "payday loan places that advertise on TV" are also publicly traded companies. Here is EZPAY's public info at Yahoo Finance - http://finance.yahoo.com/q/ks?s=EZPW+Key+Statistics http://finance.yahoo.com/q/ks?s=EZPW+Key+Statistics, their return was only 5.60%. Heres where I got that 6%/30% number: https://www.qcholdings.com/mythsaboutlending.aspx https://www.qcholdings.com/mythsaboutlending.aspx