Ken Sweet:

Correct. The customers of the payday lending industry are largely poor, lower income people who desperately need money. So they're high risk borrowers. But the way that the industry works is that you borrow a two week loan and then you go in and you say well I can't repay this $400 loan, I'd like to renew it. And you pay an extra fee and then you renew that a second time or third time. And oftentimes, you get loans that go on for six months maybe even a year.