Industry responds to Arkansas AG letter

Jamie Fulmer of Advance America and Cheney Pruett of the Arkansas Financial Services Association are defending the industry in response to the Arkansas AG’s threatening letter to payday lenders.  

Oregon “Financial Literacy” program targets credit cards

Kids receive as many as eight credit card offers by the time they are eighteen according to this article.   The Payday Pundit notes that the payday lending industry has long advocaed and supported these types of programs.

Can reporters do math?

This story in an Ohio paper demonstrates the laziness of reporters that cover our issue.   The story says outright that credit unions are offering “cheaper” alternatives to payday loans under a program called “StretchPay.”   However, even a cursory glance at the StretchPay web page makes this claim highly questionable.   While the program supposedly limits interest to 18%, there’s a [...]