Payday Lending Up North

It looks like the Canadian Payday Loan industry has started a blog of their own, Advance View.  According to Advance View, “If you follow the industry closely then you are aware of a number of developments in the regulatory field that have been unfolding recently and that will continue to unfold in the months ahead. We [...]

Buckeye Surgeon: Welcome to the Real World

Just came across a blog by a surgeon in Ohio discussing the high taxes he paid in the Buckeye State.  In case Mr. Buckeye Surgeon is not paying attention to the debate over payday lending in Ohio…he may want to read what the National Taxpayers Union had to say about the impact a ban on payday lending [...]

“Responsible payday lenders have helped millions of Kansan familes”

Tom Linafelt of QC Holdings was obviously annoyed with an uninformed editorial in the Kansan newspaper.   Here’s his letter to the editor, which goes on to make the key points that:

The vast majority of Kansan use payday loans responsibly, and;
Banning payday loans will force customers into more costly options. 

Protecting Access to Credit in California

Legislators in California have debated the issue of payday lending and are in agreement that consumers need reasonable protections, but to prohibit payday lending wouldn’t help anyone.
I think that there is need for increased consumer protection. And I’d like to see, but I’m not interested in seeing a prohibition,” said Assemblywoman Liz Wolfe.
To see poor journalism at [...]

CFSA Statement on Virginia Payday Lending Legislation

“We appreciate the effort of the General Assembly and Governor to forge a compromise on a complex issue; the result is one of the most restrictive payday-lending laws in the country. In addition, Governor Kaine deserves  credit for acknowledging that the work of the General Assembly was difficult and that the compromise developed during the [...]

The Elite and Payday Lending

From Daily Kos, “Hillary doesn’t think Obama is elitist, neither does she think he is out of touch with working class Americans. At least no more so than she is herself, or McCain is, or any politician that isn’t living paycheck to paycheck is.”
According to Wikipedia, “Elitism is the belief or attitude that those individuals [...]

Ohio update: 14 Senators sign 36% rate cap bill

From today’s Columbus Dispatch:
“If Grendell’s bill or House Bill 333 were to pass, the payday-lending industry says its more than 1,600 stores would be put out of business quickly. Under a 36-percent rate, they would be allowed to charge less than $1.50 per $100 borrowed on a two-week loan. The current rate is about $15.”
 

California committee action on payday lending bill

This Sacramento Bee story details Monday’s action in the California Assembly’s Banking and Finance Committee.