>Two other major reasons for payday loan places to exist are identity theft (especially of elderly) and money laundering, and neither will go away because the post office is competing.
Are you suggesting that payday loan operations are conducting or facilitating money laundering? Then please produce proof of a single payday loan operation that has been convicted or even accused of the charge in the last 10 years. I'll even make it easy for you to search last year's investigations:
http://www.irs.gov/uac/Examples-of-Money-Laundering-Investig...
No, payday loan operations don't need to launder money, because they are making an absolute killing ripping of the poor, and they know even the slightest hint of money laundering will strip them of their license.
Only the big boys like HSBC have the political connections to engage in money laundering and keep their licenses.
Are you suggesting that payday loan operations are conducting or facilitating money laundering? Then please produce proof of a single payday loan operation that has been convicted or even accused of the charge in the last 10 years. I'll even make it easy for you to search last year's investigations: http://www.irs.gov/uac/Examples-of-Money-Laundering-Investig...
No, payday loan operations don't need to launder money, because they are making an absolute killing ripping of the poor, and they know even the slightest hint of money laundering will strip them of their license.
Only the big boys like HSBC have the political connections to engage in money laundering and keep their licenses.