Free Republic

It says it right there on our license plates: Arkansas — The Natural State And in the Natural State, poor suckers make natural prey. Like too many other Southern states, the Natural State is a loan shark's paradise. You may have heard of payday lenders. You can find them in almost any poor neighborhood. These financial predators will gladly advance you money on your paycheck at an unconscionable rate of interest. Sometimes it's as high as 300 percent a year, sometimes higher. Surprisingly, the small print says nothing about a pound of flesh, but the effect can be almost as...

THE Illinois House last week passed reasonable rules for the payday loan industry. If the Senate follows suit, as it certainly should, some down-on-their-luck Illinoisans should be saved from penury. Payday loan shops provide a needed service - at an outrageous price. They provide small, short-term loans to people who can't get them elsewhere. Most are people shunned by credit card companies because of low income or bad credit history. If your car is broken down, and you need it for work, the payday loan store will provide money to pay the bill. But charges are steep, averaging $20 to...