After years of suckering in and ripping off poor people with quick
loans bearing insane interest rates of up to 500%, Payday lenders are
now pouring money
and lobbyists into legislative moves to curb their exploitative
practices. With Wisconsin and Colorado considering capping interest
rates at 36 percent, and Capitol Hill considering 14 bills to curtail
predatory lending, Payday has quadrupled its lobbying budget to over $4
million. Borrowers, beware. And pols, backbone please.