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from Competitive Enterprise Institute
At the federal and state level, politicians and bureaucrats should set aside the APR as the focus when discussing small loans and learn more about the true experience and needs of consumers. Lawmakers should police disclosure but otherwise take a hands-off approach. We should all want to encourage lenders to compete and innovate to offer consumers services that meet their needs and foster financial inclusion, regardless of wealth status.
Use of Misleading Measure Can Justify Misguided Regulation
Payday lending helps millions of marginalized Americans make ends meet every year. While not ideal for everyone, payday loans are often more affordable, convenient, and transparent than the realistic alternatives. Critics claims that these loans have high costs and are predatory, but existing research proves otherwise. Despite their relatively high APR, the loans are less expensive than bounced checks or overdraft fees. Furthermore, the bulk of evidence shows that government efforts to restrict their cost or availability hurt consumers.
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from The Heritage Foundation
RIGHT BIAS, MIXED American conservative think tank based in Washington, D.C.
RIGHT BIAS, MIXED American conservative think tank based in Washington, D.C.
This week, Heritage legal fellow Amy Swearer, breaks down the Biden administration’s plans on gun control. She explains why instead of addressing the real underlying problems when it comes to gun violence, President Biden is pushing politically divisive measures that could seriously damage our right to keep and bear arms without making the nation any safer.
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from The Spokesman-Review
Newspaper in Spokane, Washington
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