Fundamentally, whom’s “right” because it pertains to this industry is dependent on whether customer protection trumps customer option and credit access, or vice versa. Plainly, there has been and continue to be abuses in this industryВ—people in the market admit just as much. Similarly apparent, nonetheless, is an industry need for these financial solutions and products which would otherwise go mostly unmet among a populace that both critics together with industry consent has few other resources. Where and exactly how to attract the regulatory line is really a hotly debated grey area.
“You’ve got become notably paternalistic, or [otherwise] I do not look at importance of any usury legislation,” Caskey stated. Continue reading The customer catch-22: Selection vs. security