News for hackers. Stuff that matters.

A comment on Consumer Protection Bureau Aims to Roll Back Rules for Payday Lending. Parent comment

Re:Consumer Protection Bureau Aims to Roll Back Rules for Pa... by njarboe on Wednesday February 06, 2019 @05:14PM (#19100649)
You would have to have people's rent, mortgages, car loans, etc do the same or else people will not have enough money to pay them. The rent due at the beginning of the month right when people get a pay check is a very good idea to prevent defaults.
[ Parent | on HN ]
Re:Consumer Protection Bureau Aims to Roll Back Rules for Pa... by hinkley on Wednesday February 06, 2019 @08:42PM (#19102169)
You’d probably have to go up the chain the other direction too.

Small companies that can’t afford to take payment +60 or +90 probably won’t have the liquidity to do +30 either, so if they have to pay people daily instead of every two weeks will probably struggle.

[ Parent | on HN ]