Stale Green Light

I know, I know, here we go again with payday loans again. But I was reading something very interesting about it in South Carolina. They don’t actually want to ban payday loans, which is a good thing. But they have been feeling a lot of pressure to do something about them, as they are viewed as a problem by some. So what they did was briliiant.

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Excellent question! Legislators have not quite figured it out. The purpose of a payday loan is to have it paid back by….drumroll….payday! It is that simple!

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I realize that at first glance you would not think that payday loans and taxis have much in common. But the business model is strikingly similar.

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