Wackiest alternative to payday loans yet

This service is designed to help people borrow against their 401k plan.   It’s described in the first sentence as an alternative to payday loans.  The Payday Pundit is speechless, but a consumer advocate at The Public Interest Research Group in Washington had this to say:
“It blows my mind that, now that we’ve allowed people to go through all of their [...]

FTC: Consumers should compare alternatives before making credit choices

The Federal Trade Commission has issued an alert telling consumers to consider their alternatives before taking out payday loan.  Payday Pundit agrees. When making credit decisions consumers should consider all of their options and then determine what is best for their situation. The more options people have, the better off they are.  
Payday loans are a dignified [...]

Buckeye Wisdom: Lawmakers Wrong on Payday Loans

In a thoughful, well written op-ed titled “Lawmakers Wrong on Payday Loans” in today’s Times-Gazette, Marc Kilmer at the Buckeye Institute for Public Policy Solutions says, “Ohions did not send legislators to Columbus to make their personal financial decisions for them.”   Well said.
The payday lending industry has long advocated consumer choice and competition.    

The Payday Lending Situation in Ohio

It doesn’t get more simple than this story’s description of the two competing payday lending bills.  But what they fail to say about Ohio’s House Bill 333 is that capping payday loans at an annual rate of 36 percent is effectively a ban on the industry.  Payday loans are two-week, not annual loans. Under a 36% [...]