David Lazarus on Payday Loans

I’d like to associate myself with LATimes Business Columnist David Lazarus and these remarks on payday loans. Check out his video op-ed and just listen to how he pronounces with disdain the words “payday lenders.” He notes how the predatory business practices of this industry undercut savings and is all the more troubling during these tough economic times. He gives a shout out to Sen. Dick Durbin who is poised to reintroduce his bill that would cap the interest that could be charged on consumer loans. In 2006 Congress approved this standard for loans to active members of the military. Here’s hoping Congress extends this sensible consumer protection to all Americans.