Update: Payday Lending in Arkansas

Arkansas Attorney General McDaniel says he’s getting his way; payday lending stores are closing.   If the Payday Pundit hears anything different, we’ll post it here. 

Center for Responsible Lending lobbying?

This article from The Hill newspaper (an Inside-the-Beltway type publication) calls Eric Stein, ”the top lobbyist for the Center for Responsible Lending….”    However, no where on CRL’s website does it say that the group lobbies or has lobbyists on staff.  Here’s what it does say:
{CRL’s} Scope of Work
CRL’s staff includes attorneys, researchers, and policy analysts in North [...]

$117 Pizza?

The Payday Pundit likes pizza as much as the next blogger, but not enough to pay $117.   This CNN story is about how overdraft fees on a pizza purchase had a multiplying affect on one couple’s finances.  It also gives some good advice on avoiding a whole slew of expensive fees.  From the article:
Fees aren’t just a cost of [...]

Skepticism about FDIC’s small loan program

This story from the American Banker (subscription required) underscores the challenges that banks face making a profit from small, short-term loans.   A few interesting quotes:
Some bankers participating in the pilot program say it is possible to make money in this line, while others say they are concerned less about making an immediate profit than about [...]

Payday lending vote in KC today

Kansas City’s referendum to tax payday lending stores $1000 will be voted on today.   The Payday Pundit urges its Kansas City readers to vote NO.