Payday Pundit

The article sought of speaks for itself so no commentary necessary.

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Ohio House Speaker Jon Husted today explained why he thinks eliminating jobs and limiting financial choice is a positive path forward for the people of Ohio:
“We capped the [payday loan] interest rate at a level that created a reasonable expectation that the borrower could pay it back, that they wouldn’t be trapped in a cycle […]

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From the AP:
COLUMBUS, Ohio (AP) — Democratic Gov. Ted Strickland and Republican legislative leaders will fight an effort by payday lenders to repeal restrictive caps on the short-term loans they offer.
Strickland, Senate President Bill Harris and Speaker Jon Husted (HYOO’-stehd) will serve as honorary co-chairs of a campaign fighting the repeal of Ohio’s new payday […]

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An interesting letter to the editor in the Baxter Bulletin in Arkansas touches on motivation of city councils to ban payday lenders and other businesses they deem “aesthetically unacceptable.”  Definitely an interesting take on something we’ve seen repeated across the country in city council decrees — it’s worth a read.

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PDL industry blog says the contributions are a sign of a well organized industry.   We would put it even stronger.   Contributing to candidates is participating in democracy.  It’s the right of every American and the right of every industry. 

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As we told you when we posted this story, a three-judge panel of the 10 District Court of Appeals will hear the industry’s case today.  
The Payday Pundit will, of course, keep you  updated on any developments we here.  

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TheStreet.com provides a useful service to consumers.

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There’s a city council hearing coming up:  
A public hearing is scheduled for 6 p.m. Wednesday, Aug. 20, in the Springfield City Council chamber on an ordinance that would require payday and title loan outlets to be separated by at least 750 feet. The ordinance also would create a legal definition for what the city considers […]

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This letter in the Zanesville Times Recorder demonstrates  that payday lending employees have more sense that legislators.   
With the economy and the job market the way they are, it is terrible policy on our politicians behalf to be legislating our jobs away to other states. These were not low-end jobs, but rather very secure jobs that […]

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