Bob Plain is the editor/publisher of Rhode Island's Future. Previously, he's worked as a reporter for several different news organizations both in Rhode Island and across the country.

4 responses to “Fox Is Wrong To Say No Alts. To Payday Loans”

  1. Craig OConnor

    Wow, imagine that. Our “progressive” Speaker literally lying because the man who made him Speaker, Bill Murphy, is lobbying for the loan sharks.

    A quick look at Wikipedia shows that many states lmit the APR, including New Mexico and Arizona, hardly left-wing states. Washington DC just put a limit of 24% APR, but the loan sharks withdrew because they didn’t make enough money. Georgia (again, bastion of crazy socialists, right?) has gone even further and made payday lending a felony.

    The Democratic leadership’s unwillingness to do the right thing on this simple, no-brainer of an issue is one reason why I am no longer a registered Democrat.

  2. Craig OConnor

    And I wonder why Ian Donnis didn’t ask Fox about any of these alternatives (which as noted are well known and public) or about what other states do? Good job, Bob, on adding needed and helpful information to the story!

  3. DogDiesel

    If these options are available, why do people still go to a predatory lenders? Is the payday market targeting borrowers that wouldn’t qualify for loans from non-predatory lenders?

  4. DanielSmith

    I know the interest rates are sky high but the cold, hard truth is that the people who go to these payday lenders are the working poor. They do not have the credit for a traditional loan and do not have credit cards. Payday lenders are the only people who will lend them money. It is difficult to “live below your means” when there are no alternatives to instant online payday loans. There are car repairs, utility bills, and groceries. Sometimes these lenders are a poor persons only option.

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