Payday Lending

It appears that Tom Brown received my email as he put out a nice report today about the economics of payday lending and how it's getting a bad rap by lawmakers. You can read the report here:

http://www.bankstocks.com/article.asp?type=1&id=9881282

In summary, it's better for consumers with a short-term liquidity problem to do a payday loan than get charged late or overdraft fees.

Payday loans are only about 9% of CCRT's revenues but they are hoping to grow this business.