To the shock and surprise of virtually no one, Judge C.B. McNeil ruled that I-164, the predatory lender initiative, will remain on the ballot. As of today (Friday), the payday lenders have not filed an appeal with the Montana Supreme Court (likely knowing that they haven’t got a snowball’s chance in hell of winning).

So with the odds of passage even better than Denny Rehberg’s, might the measure’s supporters ultimately be claiming a Pyrrhic victory?

As noted in the post below, the basic demand for these types of loans will not change as a result of the new law. So what happens next? Could one or more of the tribal nations step into the breach? Would the sovereign status of the Indian nations allow them to open such businesses on the reservations – and possibly “branch” out through the internet, or even with brick and mortar locations?

Supply is going down and demand is certainly not disappearing as a result of this measure. Ergo, Economics 101.

Opportunity?