[E. Pluribus Unum]

Only the United Nations is allowed to exploit poor borrowers, but it's OK because they call it Global Micro Lending.

[The Working Man]

He really has it in for the payday loan business. I wonder if it’s a Muslim thing?

I seem to recall there was a fatwa about loaning money with an interest rate attached to the loan.

[The Toll]

The law is what Obama says it is.

[Iron Munro]

It won’t affect most Obama voters.

Very few have paydays.

Most don’t work and live by sucking the government teat.

The rest are his wealthy financial supporters - the ones he keeps campaigning against.

[Paladin2]

The govt should be concerned about poor accounting and trapping future generations into paying for overspending now allowed by idiotic borrowing. The govt is run by maroons.

[Veggie Todd]

Isn’t this a state’s issue?

[Extremely Extreme Extremist]

Payday loans are a godsend.

I took out a loan when my car broke down and I had just started a job after graduating technical college about 9 years ago. I did not qualify for a loan through my credit union and literally had about $20 bucks to my name.

I knew the risk, the financial terms, and the interest rate that was close to 500%. I signed the agreement and paid it all back within a month.

All this will do is hurt people who simply cannot get a traditional loan through a bank or credit union. Yeah, yeah I know. People need to be more responsible, but payday loan companies serve a niche. Sometimes they do keep people trapped in payment cycles, but that's because people borrow more than they need and don't understand the risks involved. And besides, how is that different from federal government policies that trap them on welfare and other federal benefits?

This is another example of federal government overreach and Obama playing politics to stoke up more class envy and anger among the black underclass. I bet there'll be some type of Obamaloan that will take over the market, you heard it hear first.

[9thLife]

A thriving payday-loan economy is not the sort of thing one sees in a healthy economy.

[The Toll]

Almost all new collection agencies start up with this debt. Its the only debt available to new agencies without a reputation. This will clearly eliminate future competition for someone, I wonder who someone contributed to.

[faithhopecharity]

Oh googy goody gumdrops! Another bureaucrappy issuing thousands more pages of regulations! Yippee!!

[notpoliticallycorewrecked]

I would like to know who in their right mind would use one of those places? Oh that’s right ...........Democrats