Let me make it clear about Big Nanny Puts Her Foot Down – No More payday advances!

Let me make it clear about Big Nanny Puts Her Foot Down – No More payday advances!

This week’s “Daily Journal” guest columnist is George Leef, vice president for research during the John W. Pope Center for Higher Education Policy.

In 2006, new york joined up with an increasing directory of states that ban “payday financing.” Pay day loans are tiny, short-term loans meant to employees to produce these with money until they get their next paycheck. The price of borrowing this way is high, showing both a considerable threat of non-payment and overhead that is high of working with numerous little deals. I’dn’t borrow cash like that, but it is an adequate amount of a company to aid a huge number of payday financing shops over the country, making a few million loans each year. Continue reading “Let me make it clear about Big Nanny Puts Her Foot Down – No More payday advances!”