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US Government issues a new rule which can put out of business many payday lenders
(02-02-2018, 11:53 AM)jaymish Wrote: I don't see the sense in this room. The government should stay out of people's lives. People are grown up and the can make their own decisions. This legislation comes too late. Where was the government when credit led to the subprime crisis in 2007 -2008? They should have made the laws before then. They should legislate on interest rates instead. This makes more sense.Make the loans more affordable to repay first. There are people who desperately need the credit, especially in America where people can't afford basic health care.

I agree with you that you have a point here in the sense that there are people that would want to go on with their lives without the help of the government in decision making of their lives. However, I think we really need to see the other side of it by understanding that some things are out of the hand of government. 

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