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Is Limiting Competition Good for the Cash Advance Industry?

  • October 24th, 2005

Recently Arizona legislators have been talking about limiting the distance between payday loan companies. Is this a good idea? I mean competition is what thrives businesses and if you limit just how far these stores can be from each other, isnt that a local monolopy. This will result in service that is less than spectacular for borrowers. Not only that but more competition means better deals for consumers. When you have a strangle on a certian area you do not have to make yourself better or work on making your product cheaper. Unlike other industries, there are no set prices and this results in unfavorable results for consumers.

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