Guest Columnist Says Stop Treating Consumers Like Children

A powerful payday lending oped in today’s Colorado Springs Gazette says lawmakers should treat responsible adults like, well, adults.   The piece by  Tim Miller of Consumer Freedom make a great point:
Responsibility is what makes it possible for adults to manage their own finances. It enables people to depend on each other at home, at the [...]

Consumer Debt Deliquencies Up, Says Bankers Group

The Payday Pundit wonders why an American Bankers Association survey that says fourth quarter consumer deliquencies are up isn’t getting more media coverage.  Specifically:
Home equity loan delinquencies increased to 2.39 percent from 2.28 percent.
Property improvement loan delinquencies increased to 1.81 percent from 1.60 percent.
Indirect auto loan delinquencies increased to 3.13 percent from 2.86 percent.
Direct auto loan delinquencies increased to 1.90 percent [...]

Ohio bill “attempts to protect people who first of all are not complaining”

Joe Ritchey, the blogger behind Ohio’s Fundamental Truth  looks at the myths versus reality of the payday lending industry in Ohio. He concludes:  
This Payday lending bill in Ohio is another attempt to protect people who first of all are not complaining, and second of all do not need protecting. There are plenty of victims from [...]

Jobless claims hit 2-year high

Jeannine Aversa of the Associated Press reports that the number of new people signing up for unemployment benefits last week shot up to the highest level in more than two years.
It’s worth noting that payday lenders employ more than 50,000 in the U.S.  Most of these are full-time employees with health-care benefits and paid vacation.  When [...]

Looking for ways to save money?

Payday Pundit offers a few savings tips.
Tip #9. Save your change at the end of the day. Take that change and deposit it into the bank (every week or month).  Nickles and pennies can add up.

More Good Payday Lending Journalism

This could be a record.  The Payday Pundit is posting TWO fair and balanced stories in a row.  This one out of the Morning News in Northwest Arkansas carries the amazing headline: “Banning Payday Lending May Hurt Some.”   No kidding.
And the reporter, John Henley Jr. actually talked a customer and described his situation:
He has worked for the same [...]