LA Voice weighs in on sub-prime lending

Posted on today’s LA Voice, an online community covering the Los Angeles area…
“We need…greater trasnparency in the lending process going forward, but the last thing we need to do is stop lending to low income borrowers.
“In the last couple of days there have been two really good pieces– one in the Wall Street Journal that [...]

Oregon’s House Speaker “celebrates” lost jobs and the taking away of credit choices

 
In a stunt to gain publicity, House Speaker Jeff Merkley toasted the closing of payday loan stores in Oregon. Jeff Mapes of the Oregonian reports on the event.
Congrats Speaker Merkley.  While you are toasting the closing of legal, regulated, tax-paying Oregon business, hard-working Oregonians are left without a credit option and forced to choose between other, more costly short-term [...]

Tucson Citizen Taken to Task

The Tucson Citizen published an excellent response by  Matthew Glans of the Heartland Institute to this recent flawed column.
His closing point?
Payday lenders are serving a group of consumers essentially blacklisted from more mainstream lending practices. In the end, consumers, not government officials, should determine whether a payday loan will meet their needs.
Well said.

Update on Kentucky payday lending bill

Here’s a good summary of the latest on on payday lending legislation in the blue grass state.