Will the payday loan industry ever become manageable?
I’m really not surprised to know that payday loans are one of the fastest growing businesses across the United States. I mean if you cannot make ends meet with your earnings, you would go in for a fast cash loan. And that explains how there are more than 22,000 payday stores across the country. And our lawmakers prefer to ignore this festering problem. Abqtrib.com reports:
The closest New Mexico has come to curbing the payday and car-title lending industry is a set of proposed regulations worked out by the governor’s and attorney general’s offices and announced in May. If they pass the muster of public input, they could go into effect as soon as next month.
Read more: Lawmakers work to make payday loans more manageable