Beware Auto Title Loans

Rise in Loans Linked to Cars Is Hurting Poor, Christmas Day, The New York Times, describes the shift from paydayloans to auto title loans as a way to exploit consumers desperate for cash to pay bills. See: http://dealbook.nytimes.com/2014/12/25/dipping-into-auto-equity-devastates-many-borrowers/?emc=eta1&_r=0

 
Within two days the article by Jessica Silver-Greenberg and Michael Corkery had generated 500 comments! Even if you haven’t been tempted, it’s a development that further widens the gap between the rich and poor in this country. Speak up to your legislators and let them know that these loans should be regulated. But, more important is the need to raise the minimum wage in order to allow workers to live with dignity.