Dolly...You Go Girl!!!

[HoosierHelen]

After all these years....Dolly remembers where she came from!! Who is supporting 400% interest charges on our military families and our unemployed workers?? Just guess.

During an interview with radio station WAXO-1220AM (Kickin' Country) in Lewisburg, Tenn., Dolly took Senator Bob Corker (R-Tenn.) to task over his refusal to regulate the nation's payday loan industry, which charges a whopping 400 percent interest rate to military families and unemployed workers for short-term loans when they're short of cash.

http://www.theboot.com/2010/03/23/do...-bob-corker%2F

[matt_s]

I've never figured out how those places can get around usury laws.

[HoosierHelen]

I've never figured out how those places can get around usury laws.

I've concluded that usury laws must be obsolete? If not some credit card companies would be in trouble too. Should I be able to shred my conscious, I would LOVE to receive a 400% return on my investment. Okay...high collection costs may amount for 100%....even 300% would be great wouldn't it? No idea personally what their costs are, but 400% leaves plenty to scrape off the table.

Happy to see Dolly step up. I haven't seen many others speak up on the topic.

[Copycatted]

I've never figured out how those places can get around usury laws.

Do you know who it was Matt that said if a pimple needs popped then pop it?-near quote

Anyway though Banks that have incorperated early access kind of did some popping on that usury question didn't they.

[john40]

After all these years....Dolly remembers where she came from!! Who is supporting 400% interest charges on our military families and our unemployed workers?? Just guess.

During an interview with radio station WAXO-1220AM (Kickin' Country) in Lewisburg, Tenn., Dolly took Senator Bob Corker (R-Tenn.) to task over his refusal to regulate the nation's payday loan industry, which charges a whopping 400 percent interest rate to military families and unemployed workers for short-term loans when they're short of cash.

http://www.theboot.com/2010/03/23/dolly-parton-bob-corker/?icid=main|htmlws-main-n|dl2|link5|http%3A%2F%2Fwww.theboot.com%2F2010%2F 03%2F23%2Fdolly-parton-bob-corker%2F

It sounds simple to me, don't borrow from them.

[nathandiehl]

After all these years....Dolly remembers where she came from!! Who is supporting 400% interest charges on our military families and our unemployed workers?? Just guess.

During an interview with radio station WAXO-1220AM (Kickin' Country) in Lewisburg, Tenn., Dolly took Senator Bob Corker (R-Tenn.) to task over his refusal to regulate the nation's payday loan industry, which charges a whopping 400 percent interest rate to military families and unemployed workers for short-term loans when they're short of cash.

http://www.theboot.com/2010/03/23/dolly-parton-bob-corker/?icid=main|htmlws-main-n|dl2|link5|http%3A%2F%2Fwww.theboot.com%2F2010%2F 03%2F23%2Fdolly-parton-bob-corker%2F

apparently, this was all a big fabrication from some blogger.
The Web site you linked to has been updated, and the quote you have above is no longer there, and has been replaced with copy noting it is a fabrication.

It's amazing what some random blogger can do!

[HoosierHelen]

apparently, this was all a big fabrication from some blogger.
The Web site you linked to has been updated, and the quote you have above is no longer there, and has been replaced with copy noting it is a fabrication.

It's amazing what some random blogger can do!

Interesting Nathan. Thanks for the update. I had linked to that website yesterday while reading stories on the AP.

Personally, I cringe when I see those payday loan stores, so the story drew my attention. I always wonder whatever happened to the old laws that that protected the public from loan sharking? It seems to me that just about anything goes with interest rates charges these days.

As John posted earlier, the best protection the public has from them is to NOT borrow there. They prey on customers who are desperate and rake in obscene profits from those who are most needy.