Posted on March 21, 2008 by paydaypundit
Liz Pulliam Weston at MSN Money pulls no punches. According to the column:
Late payments and exceeding your credit limit have almost tripled in the past decade. Bounced-check fees now average close to $30 — with some banks charging as much as $45 for an NSF (nonsufficient funds) draft.
Late fee
Overlimit fee
1994
12.55
12.75
1995
13.25
13.2
1996
14.21
13.94
1997
19.24
18.44
1998
22.1
21.14
1999
25.61
24.96
2000
27.1
25.99
2001
28.29
26.88
2002
30.04
27.89
2003
31.44
29.23
2004
32.61
30.35
2005
34.42
31.22
Filed under: Alternatives, Industry, Media | Leave a Comment »
Posted on March 21, 2008 by paydaypundit
This story out of Arizona describes a new lending program a state legislator wants to create. While the Payday Pundit has no opinion as to whether the program will be good or bad for consumers, it does seem that some people don’t understand one of the appeals of payday loans: THEY ARE SIMPLE. This new [...]
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Posted on March 21, 2008 by paydaypundit
RightRunner writes, “I suppose some politicians would rather distract us with this type of thing [payday loans] instead of working on our real problems.”
RightRunner posts a great quote from the Buckeye Institute:
“The attacks on payday lending do not bear up under scrutiny. Instead of wasting time on this issue, legislators should focus on the [...]
Filed under: Uncategorized | 1 Comment »
Posted on March 21, 2008 by paydaypundit
Marc Kilmer, a policy analyst with the Columbus, OH-based Buckeye Institute for Public Policy Solutions has written a piece critical of Ohio’s legislators.
“Ohioans did not send legislators to Columbus to make their personal financial decisions for them. Considering the poor state of Ohio’s budget, it seems ironic that some in Columbus think their time is best spent [...]
Filed under: Regulation | Leave a Comment »
Posted on March 21, 2008 by paydaypundit
A new study that says there are 1,638 payday lending stores in Ohio seems to be a very big story in the state. The above statistic, left out of every single story, is from this FDIC website that the Payday Pundit found in eight seconds. You would have thought that at least one reporter would have found this to be an interesting [...]
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Posted on March 21, 2008 by paydaypundit
This isn’t the most illuminating story out of Kentucky, but the Pundit will keep watching and post any information as it comes in.
Filed under: Media, Regulation | Leave a Comment »
