Fine point made by Tim Worstall:
If the Center for Responsible Lending wants there to be no payday lending, then it's incumbent upon the Center for Responsible Lending to build that better system, not ban the best answer we've currently got. As Mao said, we've got to make the cat want to bite the hot pepper. Providing people with a lower cost alternative to payday loans would do just that.
Of course, it's possible that there is no other viable and lower cost method. But if that's true, then how come it's righteous to ban the best we can do?
But maybe payday lending isn't that bad: "Are High-Interest Loans Predatory? Theory and Evidence from Payday Lending".