San Francisco’s Mayor Makes a Personal Plea to Just Say “No” to Payday Loans
Sunday, January 24th, 2010Most experts agree, even in a financial meltdown, the fastest way to go broke is through payday loans. But if you’re like many Americans, you may be facing the economic crisis head-on, and whether that looks like a missed mortgage payment or hovering health care bills, a payday loan might seem like an easy way to weather the economic storm.
Not so says Gavin Newsom. In fact, the San Francisco mayor best known for making the case for marriage equality has now made his case (on January 22) to those considering payday lending: “a payday loan company is not the solution.”
“We’ve all seen them.…