Payday lenders need to be limited

Utah is now way behind the rest of the nation in taking action to curb so-called "payday loans." Most states have placed limits on the amount of interest payday lenders may charge borrowers. Some states have outlawed these quick loan/high interest firms altogether. And now we learn from the Deseret News (June 13) that "those finance companies — which charge about 500 percent annual interest in Utah for short-term loans to people with poor credit — gave $48,750 to the Republican Party."

Is there a connection here? I surely hope not.

It's time to take action. Join the Democrats in a nonpartisan approval of what is badly needed. I hope to see a bill enacted as a priority in the next legislative session.

Jay Monson

Logan