Editorial Board

No More Payday Predators

A lot of payday lending is a rip-off. New federal rules can make it less so.

That loan is more expensive than you might think.

Photographer: Mark Ralston/AFP/Getty Images

If you were thinking straight, would you pay more than 300 percent in annualized interest -- or risk losing your home -- to borrow a few hundred dollars? If the answer is no, you might see the wisdom of regulating the short-term, small-sum credit commonly known as payday lending.

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