ANDREW SCHMERTZ:
Hickey wasn't alone in recognizing the problems created by these short-term loans.
Steve Hildebrand runs Josiah's coffee shop here in Sioux Falls. He's seen the detrimental effects of these high interest rates firsthand.
STEVE HILDEBRAND, South Dakotans for Responsible Lending: I have had employee after employee after employee over the last three years in the coffee shop, going through horrible, horrible financial experiences, taking out these emergency loans, and just getting into this terrible cycle of debt that is incredibly hard for them to get out of.
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