We're the only state???? What the . . . . .! Yeesh.

I was once told by a financial lawyer that Payday Loan stores are just barely above being illegal in the way they do business. I hope this bill has some real teeth. I can't stand seeing so many of these places popping up all over town. I cringe every time a business in Janseville closes for fear another loan store will fill the space. I think there are 8 of them on Milton Ave alone.

These pay day loan places also create a vicious cycle. As many peoople can not pay them off the next payday, so they 'roll' them over and it causes more interest and fee's to be added on to the loan. My friend got caught in this trap and we paid it off for her. She never went back. She fell for what she thought would be a easy fix and it cost her a lot of money.

I am sure its predators as in, they prey on low income people who have no money and can not get credit any other way. They take advantage and abuse the situation.

***** I would advise anyone thinking of going to one of these nasty places, that you check with your own bank first. Several banks have started giving out short term, small loans, to those who normally would go to these payday predator type places, and the terms and interest rates are better than these pay day places. Keep in mind , it will be higher than a normal bank loan, no.1 . because its short term, and no.2. you can not get a normal loan so you are higher risk. But their interest rates are still a lot better than payday loan junkies.

(Strictly speaking, every bill is a compromise.) Given Wisconsin's current lax regulations, almost anything would be an improvement, but I hope that the level of kerfuffle here has embarrassed people into making it a better bill.

"These places are nothing about predators." I don't understand?

I'm sorry to see the word "compromise". These places need far more oversight. I would rather see them banned completely. I'd like to see more oversight of these "rent to own" operations as well.