[gruez]

Not to mention RE: payday loans/credit cards, paying 30% APR might seem bad, but if you've got a broken car and a $1000 repair bill, taking the 30% APR loan, paying it off in a year, and incurring $169.85 worth of interest in the process, is probably better than you losing your job. Sure, it'd be better if everyone had an emergency fund so they never need such high APR loans in the first place, but banning such "predatory" loans isn't going to magically make that happen.

[Suppafly]

The predatory part is how they are marketed to people who have no ability to pay them back, not that they exist as a product at all. If they stuck to offering them to people with steady reliable income that just need a hand out of a hole, no one would have much of a problem with them.