Payday Problems

An article in the World Herald addresses the dangers and explosive growth of payday loan companies in Nebraska and throughout the country.  Around my neighborhood I have definitely noticed this as well.  It seems that half of the time when a legitimate business goes under and sells its storefront it is eventually replaced by a predatory payday lender. 

I think a town like Council Bluffs compounds the problem with the payday loan / casino combination that can leave many people in a payday predicament.  Add to that the Methamphetamine problem in the Midwest (recently highlighted by Tom Becka) and communities can crumble in financial and family disasters.

I think it is especially sad when I see a payday predator camped out next to an HR Block and seeing people go to get their taxes done, opt for an instant refund (really a refund advance loan) and take that check directly to the payday predator to save next week’s paycheck. 

If we can pass laws requiring people to wear seat-belts to save them from themselves, we can pass laws to save them from themselves in the lines of payday predators.