Listen, if you could figure out how to charge even 40% yearly interest on a $100 one week loan (i.e. you'll make $0.7 gross) then you should do it and offer a better service.
Restricting people from accessing the service because you read some outrage entertainment (the news) is not good. To be clear, that is what this law did.
It's like lottery. It's basically a tax on the poor. I hate it. But if it was overly regulated, we'd see the numbers racket come up again. And personally, I prefer regulated markets over black markets.
And to be clear; I think lottery should be further regulated by limiting advertising, and even creating an opt out system for problem gamblers. But if a legislation was passed that had those elements WITH elements that would drive the industry underground, I'd 100% be against it.
But that doesn't stop making them a service.
Listen, if you could figure out how to charge even 40% yearly interest on a $100 one week loan (i.e. you'll make $0.7 gross) then you should do it and offer a better service.
Restricting people from accessing the service because you read some outrage entertainment (the news) is not good. To be clear, that is what this law did.
It's like lottery. It's basically a tax on the poor. I hate it. But if it was overly regulated, we'd see the numbers racket come up again. And personally, I prefer regulated markets over black markets.
And to be clear; I think lottery should be further regulated by limiting advertising, and even creating an opt out system for problem gamblers. But if a legislation was passed that had those elements WITH elements that would drive the industry underground, I'd 100% be against it.