Payday loan companies are fighting tooth and nail to curb more regulations.
Banks and credit unions are looking at alternatives to payday loans.
Payday loan companies say if regulated to the same standards as regular banks and savings and loan companies, they will be driven out of business.
Considering the amount of money these companies make on interest alone, one has to take that statement with a grain of sand.
In reality they do not want to loose the enormous amount of profits they make off the backs of underbanked customers.
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