Modern politicians have discovered a ripe old target for populist demagoguing: payday loan providers

Modern politicians have discovered a ripe old target for populist demagoguing: payday loan providers In a message on Thursday afternoon, President Obama endorsed brand brand new proposed guidelines through the customer Financial Protection Bureau to break installment loans in Indiana direct lenders down in the payday financing industry. These short-term, high-interest lenders also have recently drawn fire from comedians like Sarah Silverman and HBO’s John Oliver. Payday loan providers alllow for a punching bag that is easy. Moneylenders will always be a target that is popular and laws against usury are as old as sin. These loan providers provide a clientele that is primarily poor …

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