That does seem reasonable, does not it? A normal credit-card price is about 15 per cent, perhaps 20 or more when you have bad credit. But towards the payday-loan industry, a proposed limit of 36 % just isn’t reasonable after all.
JAMIE FULMER: As soon as the consumer-advocacy people get and advocate for the 36 per cent annualized portion rate, they very plainly understand that that ’s industry reduction.
Jamie Fulmer is a representative for Advance America — that’s one of the biggest payday loan providers in america.
FULMER: us, we operate on a relatively thin margin if you associate the cost of paying our rent to our local landlords, paying our light bill and electrical fees, paying our other fees to local merchants who provide services to. Continue reading