Blogoshpere latching onto McGovern’s Journal piece

Ankle Biting Pundints, a well-known conservative blog, has highlighted today’s McGovern piece in the Wall Street Journal.   Another respected blog, EconLog also posted comments on this insightful op-ed.

Center for Consumer Freedom: Payday Loans a Helpful Option

Tim Miller of the Center for Consumer Freedom has a great response in the today’s Capital Times to a “one-man smear campaign on the payday loan industry” by a reporter at the paper:

Dear Editor: Dave Zweifel’s one-man smear campaign on the payday loan industry is as misguided as it is ill-informed. Zweifel has spent his recent columns assaulting [...]

George McGovern: Freedom Means Responsibility

Former Democratic presidential candidate and South Dakota Senator George McGovern has an outstanding piece in Friday’s Wall Street Journal on the problems with “economic paternalism,” in the effort to ban payday advances.  Here are a few choice quotes:

          “Payday lending bans simply push low-income borrowers into less pleasant options, including increased rates of bankruptcy. Net [...]

Sub-prime Problems Hit Cleveland Neighborhood

With legislators and special interests around the country jawing about the payday advance industry, your Payday Pundit wonders why these folks aren’t paying quite as much attention to how some sub-prime borrowers have fallen into mortgages that simply exceed their means.  Check out what’s happening in one Cleveland neighborhood today:

          “All told, local officials estimate there are [...]

VA Payday Bill Puts Consumers at Risk

Virginia’s General Assembly has moved a payday advance bill to the desk of Gov. Tim Kaine that restricts consumer choice on when and how often consumers may have access to credit.  The measure, which Kaine has indicated he will sign, includes a complicated schedule of new loan applications and makes it illegal for a consumer [...]