Payday lenders lose interest in Oregon
Scores of Oregon payday and car title lenders have closed their doors as a 36 percent interest rate cap and other new regulations took effect last week.
At least 60 payday loan stores have closed or surrendered their licenses since June 1, says Charles Donald, supervising examiner at the state Department of Consumer and Business Services.
Thank you Oregon legislature. I know that you all "feel good" about "helping the poor, the disadvantaged" with the interest rate on their loans... oh wait, now they simply can't get loans!!
Well, now the Oregon legislature has once again proved that government knows better than the market, I think I will go report on Hardy Myers "price gouging" site to see if we can get some price controls on our fuel.