Payday Loans, and Government Regulations

[Joshua Farrell]

Should payday loans that loan businesses give out, be regulated by the government? And should it have regulations that they have to follow, if they don't need to follow them in your area of the world?

 

[Niyi Briggs]

The best the government in my country just warns you about those loan sharks. They don't regulate it. It is really not possible since most of these loan companies are online.

 

[Bisolami]

The best the government in my country just warns you about those loan sharks. They don't regulate it. It is really not possible since most of these loan companies are online.

Most of them are online and they are licensed by the government but there is a way the government will intervene when you don't pay up on time

 

[IB D]

Most of them are online and they are licensed by the government but there is a way the government will intervene when you don't pay up on time

Government doesn't intervene in failure to pay loans even in commercial banks, not to talk of online loans. Those ones are on their own.