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Should payday lenders be more regulated than they are? If payday lenders were more regulated, would...

Should payday lenders be more regulated than they are?
If payday lenders were more regulated, would there be unintended consequences?
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Yes payday lenders be more regulated then they are.because payday lenders charged higher interest from the customer.its gives unnecessary burden to customer .as pay day loan is provide on the basis of salary hence bank while giving loan to cutomer collected all the information regarding their bank and then they deduct directly their loan amount with interest from customer account.hence for this month's need customer will take again loan for their needs.and then its like falling in loan trap.

If payday lenders were more regulated then customer get less loan from bank then they cannot meet their financial obligations.Then they forced to use options which are more than costly .As no bank give loan on the basis of salary without doing so many formalities hence in that case customer will face difficulty to run day to day activity .Payday loan gives loan easily without taking time.

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