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.

2 responses to “Most Rhode Islanders Want Payday Loans Reformed”

  1. Payday loans, Gina Raimondo, and what they have in common « On Politics

    [...] state treasurer Gina Raimondo has criticized payday loans as a “predatory product,” two of her political associates have links with a check-cashing business that has offered [...]

  2. DanielSmith

     
    I have used a pay day loan occasionally when a big unexpected bill pops up. I pay $36 to borrow $200 for 2 weeks. A bank charges you $35 to borrow $1 if you make a mistake doing math in your check book. Who are the rip off people here? One time I used the wrong deposit slip (my mistake) and my bank charged me $175 in fees for 5 $4 lunches on my ATM card even when I had $1600 in a savings account in the bank. Yes I made a mistake but the bank could have just transferred some money or taken 5 minutes to call me. By the way most banks have a way to make your card be turned down if funds aren’t available but you have to ask for it. Then they often “forget” to keep that feature turned on also. Better a devil you know at the payday loan place that is honest about his fees up front than your good buddy banker that will twist the knife he drives in your back when you are shaking his had in friendship.
     

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