Comments on: Consumer Protection for Military, Not Other Alabamians http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/ & Home of Lawn Mower Repair Sun, 12 Oct 2008 23:57:43 +0000 http://wordpress.org/?v=2.0.5 by: www.getbestloansnow.info » Consumer Protection for Military, Not Other Alabamians http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10892 Tue, 09 Oct 2007 18:25:44 +0000 http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10892 [...] Danny wrote a fantastic post today on “Consumer Protection for Military, Not Other Alabamians”Here’s ONLY a quick extractThe interest rate for most loans to Alabamians is capped at 36% APR by the Small Loan Act, but the legislature passed a law exempting payday loans from the statute after the banking industry sued payday loan businesses to bring them … [...] […] Danny wrote a fantastic post today on “Consumer Protection for Military, Not Other Alabamians”Here’s ONLY a quick extractThe interest rate for most loans to Alabamians is capped at 36% APR by the Small Loan Act, but the legislature passed a law exempting payday loans from the statute after the banking industry sued payday loan businesses to bring them … […]

]]> by: political_observer http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10887 Tue, 09 Oct 2007 16:39:28 +0000 http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10887 Don, Yes they do. Just not the ones that pay their "official" salary. :-) And Brian, seems these fleecing businesses need the protection of the government to take advantage of folks often in desperate circumstances in spite of the fact they're working 40 hours a week, so I guess they can't take care of themselves either. The funniest argument I heard in favor of these charlatans is the one guy who claimed he was running payday loan businesses in a "Christian" way. Guess my Bible is defective, looks like Byrne's Bible was just as defective, so I consider myself in good company. Too bad stuff that really could help the average citizen never finds the light of day in this august body of esteemed "public servants." Don, Yes they do. Just not the ones that pay their “official” salary. :-)

And Brian, seems these fleecing businesses need the protection of the government to take advantage of folks often in desperate circumstances in spite of the fact they’re working 40 hours a week, so I guess they can’t take care of themselves either.

The funniest argument I heard in favor of these charlatans is the one guy who claimed he was running payday loan businesses in a “Christian” way. Guess my Bible is defective, looks like Byrne’s Bible was just as defective, so I consider myself in good company.

Too bad stuff that really could help the average citizen never finds the light of day in this august body of esteemed “public servants.”

]]> by: Don http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10864 Tue, 09 Oct 2007 12:38:11 +0000 http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10864 Heaven forbid that anyone suggest that our esteemed legislature doesn't work for the people who pay their salaries! :-) Heaven forbid that anyone suggest that our esteemed legislature doesn’t work for the people who pay their salaries! :-)

]]> by: Margaret http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10830 Mon, 08 Oct 2007 22:18:05 +0000 http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10830 Part of the reason we can't get these reforms is because powerful people in the legislature own/owned these businesses and want to make as much profit as possible. I believe Barron owns or owned 26 of them. Part of the reason we can’t get these reforms is because powerful people in the legislature own/owned these businesses and want to make as much profit as possible. I believe Barron owns or owned 26 of them.

]]> by: Danny http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10828 Mon, 08 Oct 2007 22:00:32 +0000 http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10828 Brian, I have some respect and sympathy for your position, but I believe it to be a distinctly minority one. Many people are grateful for consumer protections afforded by law. While you may campaign for the repeal of the Small Loan Act, I don't think you will find a majority to agree with you. And until it is repealed, I don't agree with an argument for enacting a law that specifically exempts payday loans. Do you think that the Defense Department made a mistake here? Brian, I have some respect and sympathy for your position, but I believe it to be a distinctly minority one. Many people are grateful for consumer protections afforded by law. While you may campaign for the repeal of the Small Loan Act, I don’t think you will find a majority to agree with you. And until it is repealed, I don’t agree with an argument for enacting a law that specifically exempts payday loans.

Do you think that the Defense Department made a mistake here?

]]> by: Brian http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10825 Mon, 08 Oct 2007 21:38:24 +0000 http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10825 Actually, yes. The government has no business interfering with a willing lendor and a willing borrow provided there is no fraud involved on either's part. If you don't understand the terms of a transaction then don't sign up for it. Actually, yes. The government has no business interfering with a willing lendor and a willing borrow provided there is no fraud involved on either’s part. If you don’t understand the terms of a transaction then don’t sign up for it.

]]> by: Kathy http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10822 Mon, 08 Oct 2007 21:21:54 +0000 http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10822 Brian, are you objecting to all usury laws? If not, why should payday loan companies be exempt from laws that other lenders must follow? Brian, are you objecting to all usury laws? If not, why should payday loan companies be exempt from laws that other lenders must follow?

]]> by: Brian http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10817 Mon, 08 Oct 2007 21:12:38 +0000 http://www.politicalparlor.net/wp/2007/10/08/consumer-protection-for-military-not-other-alabamians/#comment-10817 Do you really need the government to look out for you? Surely you have the good sense to avoid payday loans without some bureaucrat forcing such a decision on you. Do you really need the government to look out for you? Surely you have the good sense to avoid payday loans without some bureaucrat forcing such a decision on you.

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