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Mike Foley

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Payday Lending: Serving the Unbanked

Financial MarketsMedia and CultureMoney and BanksCapital and Interest TheoryValue and Exchange

02/10/2004Mises Daily Articles
The Center for Responsible Lending says that payday lending is a predatory business in that it lures borrowers into a "debt trap." Mike Foley says this view is all wrong: pay-day lending provides liquidity when it is most needed, and an an opportunity to establish a positive credit history.
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