But we're just filling a need…

Such is the lame refrain of the payday lenders – meanwhile their interest charges are usurious at best and illegal at worst (they get around the law by calling their fees “service charges” or something like that). Fortunately there are some trying to put a stop to this sort of legalized robbery. Unfortunately conventional financial institutions are partly to blame for simply pulling out of poorer areas. How do we offer financial services to the poor? I’m pretty sure you can’t just force banks to locate in every neighbourhood, such a law strikes me as unworkable on a practical level.

Thoughts?