financial “wreckage”

Brent Finnegan -- December 11th, 2006

Some of you might wonder why I (and other VA bloggers) have been reporting so often on this payday loan issue. I posted entries about it in November and once this month already.

Today Chris Graham filed this story at the Augusta Free Press, explaining in detail the reasons why many people call payday loans “predatory lending.” It features an interview with a guy who worked for a year as a manager at a payday loan business in Harrisonburg. Worth reading.

Is the tide of public opinion slowly turning against payday lending practices as people become aware of it? It seems some state politicians — who essentially voted these things into existence — are having second thoughts. Steve Landes, chair of the House Republican Caucus is already on the side of O’Bannon’s bill.

Tags: payday loans

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