Payday Loan civil dis?

[d_goddard]

Caleb, I agree Real-ID is "bigger" in terms of threat to liberty... fortunately, it's also already got the attention of mainstream media in N, and they (and the Governor, and the Senate, and the House) are already on our side for this one. I'm counting my blessing and thanking GraniteStateID and all the supporters for that!

If CivDis is in part about making the media, and the populace, aware of an evil they would otherwise not see, and bringing them on our side, and making many allies out of people who otherwise would not know about us or our philosophy, then I have to say Dave's choice of Pay Day Loan Civ Dis is absolutely brilliant.

[John Edward Mercier]

The Legislature is enacting this law to 'protect' the customers of these businesses. The businesses will simply stop offering the service... thus hurting the customers that don't have other options in the first place lest they would use them.

A law that 'harms' the people it was enacted to 'protect'.

[J’raxis 270145]

well, since the loans are short term, they won't make any money.

And now we see the true intent of this law—not to regulate them, but to actually put them out of business without resorting to an explicit ban.

[karenijohnson]

MOST states have USURY laws that limit Interest.  ALSO, PayDay Loans FEES!!

hi all:
pay day loan places will survive. they will charge more or different fees. they can issue your loan in an out of state (or even country?) bank and then charge a FOREIGN bank FEE to cash it. As long as people need money fast, there will be this service.

that is all for now.
//

[Caleb]

I think that's sort of the problem. As I see it, the fact that there is a market for such a loan is a societal failure of the greatest degree. I have no desire to use violence against payday loan vendors. But their very existence is an affront to my unbridled idealism. So, of all the onerous laws in existence, why this one was singled out is beside me. I'd rather spend my energy working for a society where such places don't exist because there is no need for them.

[John Edward Mercier]

This is the cost of exchange. Obviously if a person negotiated that they be paid in a format of preference, then no cost of exchange would occur. Prime example is DRIPs. The investor wishes more shares not cash dividends and thus saves the broker fees.

[Dave Ridley]

I think that's sort of the problem. As I see it, the fact that there is a market for such a loan is a societal failure of the greatest degree. I have no desire to use violence against payday loan vendors. But their very existence is an affront to my unbridled idealism. So, of all the onerous laws in existence, why this one was singled out is beside me. I'd rather spend my energy working for a society where such places don't exist because there is no need for them.

it's singled out because it is an unusually naked type of aggression for new hampshire....killing out hundreds of jobs and banning certain types of consensual monetary interactions.  I haven't seen anything like that pass since I moved here.  More is on the way , and if this one generates a lot of resistance it may help head off some of the other evils coming down the pike.

[Russell Kanning]

I also agree that there are bigger evils in the world than nh state licensing and such ... but if Dada wants to fight them, then I see no harm to our movement. Dave is not ruining it for the rest of us.

otoh ... that redheaded guy in Riverside ... now how do we stop him?

I am excited about building up the RealID issue .... let me know if that is a go. Sorry ... I guess we probably already have a thread for that.

[Porcupine_in_MA]

it's singled out because it is an unusually naked type of aggression for new hampshire....killing out hundreds of jobs and banning certain types of consensual monetary interactions.  I haven't seen anything like that pass since I moved here.  More is on the way , and if this one generates a lot of resistance it may help head off some of the other evils coming down the pike.

Very well put David. I've got your back brother.