Send a Tweet
Most Popular Choices
Share on Facebook Share on Twitter Printer Friendly Page More Sharing
OpEdNews Op Eds

Payday Loans - Modern Day Usury

By       Message Stephen Lendman       (Page 1 of 8 pages)     Permalink    (# of views)   1 comment

Related Topic(s): ; ; ; , Add Tags
Add to My Group(s)

View Ratings | Rate It

opednews.com

Author 194
Become a Fan
  (191 fans)
- Advertisement -

Payday Loans: Modern Day Usury

by Stephen Lendman

Loan sharking writ large.

Payday loans let predatory lenders rip off unwary borrowers. They provide short-term unsecured quick cash. It comes at a high price. It matches the worst of loan shark practices.

- Advertisement -

The Center for Responsible Lending (CRL) calls itself a "non-partisan organization that works to protect homeownership and family wealth by fighting predatory lending practices."

It's "witnessed, studied, and fought against outrageous lending abuses." They "strip billions of dollars from (unwary) American families."

In July 2009, its report discussed predatory payday lending. It's titled " Phantom Demand : Short-term due date generates need for repeat payday loans, accounting for 76% of total volume."

- Advertisement -

In other words, debt entrapment assures repeat business. Borrowers need new loans to service old ones. They also need help to meet other obligations.

Next Page  1  |  2  |  3  |  4  |  5  |  6  |  7  |  8

 

- Advertisement -

View Ratings | Rate It

opednews.com

I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

Stephen Lendman Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Related Topic(s): ; ; ; , Add Tags
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert