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Payday Loan Bans : What Happens When They Are Made Into Law

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Payday Loan Bans - What Happens When They Are Made into Law Payday Loan Bans - What Happens When They Are Made into Law What will really happen if payday loans are banned? The consequences could prove wide-ranging and affect multiple stakeholders in the world 's increasingly fragile economy. An article posted on the WashingtonPost.com conjectured that the United States would become a wonderful garden without all the tacky neon signs for payday loans that are common in most reas of the country. The article points out that New York state has always banned payday loans, which begs the obvious question: Why hasn 't all of New York turned into such a beautiful urban landscape? Those same flashing signs are described favorably when referring to the lights of Broadway. Legal Bans of Payday Loans Could Open the Floodgates to Political Bans of Any Industry The end of payday loans doesn 't take into account how censorship and political control of free enterprise are key steps toward socialism or communism. The ban doesn 't give disenfranchised people any alternatives for emergency credit, and instead of protecting consumer rights, bans would limit people 's options and force them to turn to other measures in financial emergencies. Fixing Problems in the Financial World Is Never Simple or Without Consequences Even a cursory study of the financial markets reveals that experts are worrying about multiple game-changing issues like Brexit, helicopter money, national debts and weak

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