I agree that the payday loans should be shut down but I disagree with who to blame and how to shut them down. These companies are honest to their customers when they state the repayment plans and obilgations. Sure they gouge people but the people know that beforehand. They justify it by degree of risk, by loaning to anyone with an income, even an SSI check that they can barely live on. That increases the risk of nonpayment and and just like any other investment the greater the risk the greater the potential for reward or loss. But what happened to people reading the contract, using some common sense, and living within their means?? In my opinion these payday loansharks could not operate in a more affluent educated area, because they would not get any business. They prey on the poor and less intelligent. I bet if you took a survey of those who use the payday loans most of them also buy from some rent to own place, also a huge ripoff that preys on the poor, less intelligent and impulsive. You can either try to regulate them out of business which would be very hard, especially without effecting other businesses even banks. Or you could try to teach people some personal finance skills, which would help them in all parts of their lives. No business can stay open without customers, as long as their is a demand businesses will find a way of supplying. so rather than attack the supplier why not educate the customer to reduce the demand??