QC Holdings Runs Full-Page Ad in Kansas City Star

A full page ad sponsored by CFSA member-company QC Holdings discusses the myth versus facts of payday lending.

The bottom line: Responsible payday lenders have helped millions of Missouri families make ends meet when facing unexpected expenses such as auto repairs, medical expenses or unusually exorbitant bills.
Update: QC’s Tom Linafelt had a LTE published in the Kansas [...]

Just because you don’t agree doesn’t make it phony

Rep. John Patrick Burnett, a Democrat representing a district in Kansas City, MO calls the Payday Pundit a “phony blog.”  Representative Burnett, just because you don’t agree with something doesn’t make it phony.
There is nothing phony about the hundreds of people employed by payday lenders in Missouri.  Or the tens of thousands of hard-working Missourians who appreciate access to cash between [...]

Has Yossarian* moved to Kansas City?

Last fall the Kansas City City Council passed new zoning regulations and additional restrictions on payday lenders, but the Council does not have the staff to oversee the new regulations, so they are now asking voters to approve a $1,000 annual fee per payday lending business in order to pay for 2-3 staff to oversee the new regulations. 
 
So, under the guise of [...]

Payday Loans a “Godsend”

In the comments section below a pro-payday loan piece in the Sandusky Register (requires a subscription to read full article) one reader had this to say:
Scott wrote on Apr 6, 2008 11:48 PM:
” I know firsthand what a Godsend these places can be in an emergency. Yes, I had to pay a fee [...]

Center for Responsible Lending relies on “shoddy research”

Terry Kibbe of the Consumers Rights League weighs in.    From her piece in today’s Los Angeles Times:
“The Center for Responsible Lending and other so-called consumer advocacy groups rely on shoddy research in stirring gender, racial and class sensitivities to make the case against payday loans, as they did during their successful crusades in Georgia and North Carolina [...]

Citizens Can Make Their Own Financial Choices

That’s the thrust of the terrific op-ed “I’ll pay you Tuesday for payday loan today” in the South Carolina Times and Demcrat by Michael Hough of the American Legislative Exchange Council.  In criticizing legislative attempts to ban payday lending, he argues than payday lending is often a better choice that alternatives.  Money quote:
 
“Many times payday [...]

Credit Union official tells truth about small loan program

In the interesting article in the Milwaukee Sentinel, Eric Richard of the Credit Union National Association, argues against regulating credit unions like banks.  One of the reasons?
Richard said credit unions sometimes will provide services to members even if they know they won’t necessarily make money. Fast-cash loans as an alternative to payday lenders is one [...]