Payday Pundit

We reported this before, but it looks like the State of Minnesota has moved forward to bring Internet lenders into compliance with state laws. 

[Read more →]

A payday loan in Scotland is typically $25 per $100 borrowed over a 31 day period.  (We guess the two-week model isn’t common there.)   According to the Payday Pundit’s math, that comes to 300%.  According to this newspaper’s math, it comes to 1200%.  
One of us can’t do math. 

[Read more →]

More comments from our readers:
How does Keno Teds approval rating seem to keep going up! What has he done to improve the lifes of the people of the state of Ohio! Unemployment is the highest it has been in 20 years! He is currently trying to force out another 6000 jobs. I don’t get. What […]

[Read more →]

That’s why employees of payday loan stores don’t interrogate their customers.   This story out of the U.K. is infuriating: 
According to a Channel 4 news report, to be aired on Monday night, many of these loans are being sold as longer term loans by staff that do not fully understand annual percentage rates.
Damon Gibbons, of the […]

[Read more →]

That’s how a strip mall owner in Texas describes a payday lending store he is hoping to lure to a development.  “God bless, Texas,” as the song goes.    Here’s the story. 

[Read more →]

Do you really think Ohioans will vote to keep payday lenders in business. HB545 will be upheld by a landslide. Get a reality check!    — Susie
Susie,
I think the one that needs a reality check is you. The ignorance of people like you is AMAZING. I for one believe it will be voted in our favor, […]

[Read more →]

Apparently there will be five ballot initiatives in Ohio.    Only the payday lending initiative has been singled out by advocy groups for excessive whining.  From the article: 
Ohioans won’t vote on mandatory paid sick days on Nov. 4, but they will decide the fate of a payday-lenders law, a proposed casino near Wilmington and continuation of […]

[Read more →]

These guest editorials–obviously organized by payday lending opponents–whining about the signature gathering process of the Ohio referendum are getting old.   This line of argument is being pushed because the anti-payday lending forces don’t want to argue about “consumer choice.”  It’s an argument they can’t win.   

[Read more →]