Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 1 (1 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   1 comment
OpEdNews Op Eds

Payday Loans - Modern Day Usury

By       Message Stephen Lendman     Permalink
      (Page 1 of 8 pages)
Related Topic(s): ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It

opednews.com

Author 194
Become a Fan
  (191 fans)

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.

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."

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

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.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon



Go To Commenting
/* The Petition Site */
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Related Topic(s): ; ; ; , Add Tags

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