Where did payday loans come from?

This scares me a little bit--I can't believe it has been around this long. I think the first one I ever heard of was Check Into Cash--they had a catchy commercial.

When I saw this subject line....boy did images start flying around in my head...

Where did payday loans come from? The spawn of evil! :evil:

I can remember when they first started popping up in the small town I live in. My first thought was, why in the world would anyone pay so much money to have a check cashed, how can these companies be making any money? I had no idea how they actually operated, I had always thought it was strictly a cash checking place. Well, I sooned learned what they were, and never in my wildest dreams thought I would ever be in a position to use them, until I ended up single and on my own with not enough money to support myself. But, I am working two jobs now to makes ends meet, and if I never walk into another one of those pdl companies, it will be too soon!

I bet the guy who took out the very first pay day loan is still paying roll over fees.