Often payday lenders are the last tool of the working poor to forestall having utilities cut off, having a car repossessed (which can lead to losing one’s job), or even going to jail for falling to pay a parking fine. There are two remedies for those who believe that current payday lenders charge too much. Number one, make it easier for new entrants to the payday lending market. Competition will drive down costs and increase service. Number two, those who believe that payday lenders are charging too much must believe that they have identified a profitable business opportunity. They should enter the payday lending market themselves and offer their services at lower prices. Furthermore, no one should believe the specious excuse that new regulations are needed that would “…require lenders to make sure that borrowers have the means to repay them.” There is no better or quicker way to lose money than to lend it to people who cannot pay it back.