On the local blog “Burnt Orange Report” an article was posted about the much needed reforms to the payday laws in Texas. Though the article was recently posted on October 13, 2011, cause for concern regarding the current payday laws has been headlining news columns for quite some time. The author of this blog interviewed State Representative Eddie Rodriguez regarding his opinion on the matter. Mr. Rodriguez has been an advocate for payday law reform. Mr. Rodriguez says “there’s a reason why they [payday loan establishments] are sprouting up like a lot of mushrooms after a rain, and that’s because they are so lucrative.” Essentially Mr. Rodriguez believes that these companies are taking advantage of the situation and since there are no real restrictions in place some companies make an excess of 300% in interest. Wow! That’s a lot. The author appears to be in favor of changing our current laws. He did a great job supporting his view by interviewing Mr. Rodriguez. This lends credibility to his article and leads the reader to agree with the viewpoints stated. The author also cites several facts regarding the problems associated with our current laws. He notes that a loan of $1000 could end up costing $3500 when unpaid installments are continuously rolled over into the loan. Though the facts are quite impressive, I think the blog would have been better had the author played more on the emotional side of human nature. For instance, he could have talked about the dire economic situation our country is currently in and the cold-hearted nature of these companies for exploiting the average working person’s tough financial situation. I appreciate the facts that were presented, but this article would have been more compelling had the emotional element been added.
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