In Reply to: Credit Union & Money lenders posted by Good Fellow on November 29, 2015 at 14:16:47:
It depends on what you mean by "money lenders"
Payday lenders are regulated
Loansharks/tickmen obviously arent.
The former attempt to justify their very high interest rates by pointing out that theyre on the business of offering short term unsecured loans to people who generally have no formal credit history or a very poor one.
Whether such justifications are actually valid is of course a matter of opinion and the whole issue is subject to a lot of media coverage in some countries.
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