# Comments on:How "payday" lenders pull off crippling rates

The government stopped putting a limit on interest rates, so every lender is now charging usurious rates, including banks.
If I tell you, you can borrow \$200 but you have to pay me back \$400 in two weeks, would you take it?
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Well, we took their land from them some two hunderd years ago and now they're just taking it back, one payday loan at a time.

i want to know who the other tribes are. I belive I saw my chief for a second. If that is true, I need to withdraw my membership. This is incredibly shameful. Please list the tribes involved.
Someone ask Rick Perry why payday lenders run wild in Texas. I live in Dallas btw.
I am an advocate for using the mathematically-TRUE, Compound method of expressing the Annual Percentage Rate (CAPR) instead of the current mathematically-UNTRUE Nominal, Simple-Interest APR (SIAPR) listed in the Truth in Lending Act (TILA) of 1968 as: Appendix J (b)(1): the rate for a unit period multiplied by the number of unit periods in a year. The data given does not make sense. If the SIAPR is 476% and the beginning period is two weeks (14 days), then the periodic interest is 18.26%, calculated as (using Excel notations) 476%*14/365/100. That rate is a curious number, so it seems unlikely accurate... although it is within the wide, usual rate of 15% to 35% on a 14-day periods. If the 14-day rate is, indeed, that then the mathematically-True, CAPR is, 7824.78%, calculated as ((((1+(0.1826))^(365/14))-1)*100. That mathematically-true APR (CAPR) of 7825% is astronomically different from the SIAPR. The act should be changed.
Again the Republican Party wages its war against the lower and middle classes. These payday lenders prey on the lower class and U.S. uniformed service personnel are a prime target for them. Yet, the Republicans have aligned themselves with the payday lenders and against the American soldier.
Some "payday"...for them!
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Payday loan hypocrisy: Missouri GOP forgets example set by Jim Talent
For the Republicans in the Missouri House who continue to block meaningful controls on payday-loan companies, we have a question.