400 jobs lost to payday lending measure, ripple effects

[TexasTowelie]

Only a gun range and radio station remain of the entertainment emporium that was Chuck Brennan's Badlands Pawn, Gold and Jewelry.

That was the latest news in the ongoing saga of Initiated Measure 21, the interest rate-capping ballot question that’s shut down the payday industry in South Dakota.

Badlands Motor Speedway is up for sale, and all 11 of Brennan’s Dollar Loan Center stores are closing.

That’s left a lot of people out of a job. The businesses represented 400 jobs in total, Brennan said, half of which were full-time.

Read more: http://www.argusleader.com/story/news/2017/01/03/brennan-400-jobs-lost-payday-lending-measure/96113812/

[kimbutgar]

1. Those damn regulations kept people from being in debt forever with high rate loans

The rethugs need to git rid of them!

Said a rethug politician...

[Wellstone ruled]

2. Mr. Brennan is not going to suffer.

The Guy is worth Millions. His income from his Cash Rent Lands and Rental Properties will keep him in Chips and Beer for several lifetimes.

What is really surprising is,the Interest Cap coming from the South Dakota Legislature who has recruited every major bank to set up operations knowing the State Allowed unlimited Interest to be charged.

[HassleCat]

3. Fine with me.

I don't like a neighborhood of pawn shops, tattoo parlors, biker bars, massage parlors, etc.