Dallas Morning News: Ending the Payday Lending Cycle
October 22, 2014
Each time we editorialize about the dangers of payday lending, we can count on at least one letter to the editor asking whether we’d prefer to send distressed borrowers underground to some guy who might break their leg if the money isn’t repaid on time. Of course the answer is no. But paying 400 percent interest on loans that roll over and pile up debt faster than the odometer on your car isn’t exactly a safe financial route either. Innovative alternatives exist, including one with tremendous potential that just received state approval to come to Dallas. Read more here.