Massachusetts has barred two Internet lenders.   When will these states understand that consumers need access to short term loans?  Barring a couple of lenders does nothing to solve the problem.  The answer is regulated store-front lending.

Elizabeth Warren’s appearance on The View was boring.  Heard it all before.  Nothing about payday lending.

CreditLoan blogger has some interesting thoughts.

Reminder, Elizabeth Warren is on the show today.  It begins 11:00 ET.

We “exploit” those in the armed forces? By what, offering them a fully disclosed loan product?

Let’s not discuss why those in the armed forces would need a payday loan. Also, they should obviously be able to make every other decision for themselves and fight a war, but certainly they should not be allowed to make their own financial decisions.

Yeah, we “prey” on them. Just like every business with a customer base, and an open door “preys” on their customers. It used to be called free enterprise.

I haven’t promoted the 2011 Annual Conference in awhile, so I will today.   Next year’s conference– ”Turning Challenges into Opportunities”–is in sunny, warm Florida in March.  For more information, link here.     

A North Carolina advocacy group is holding a meeting to get ideas for the new Bureau.   From the story: 

On Friday, some North Carolinians will provide input on what the CFPB should look like.

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Peter Skillern, executive director of the Community Reinvestment Association of North Carolina, explains that while the CFPB has a directive, how it will be accomplished is still open for input.

“This is an opportunity for North Carolina advocates, lenders and policymakers to say what we hope the CFPB would look like and what it will do.”
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Skillern’s group is sponsoring the local meeting. The invitation-only forum is being held at the Friday Center, Chapel Hill.

Gee, I wonder what groups are invited.

Jamie Dimon, CEO of JP Morgan doesn’t take Elizabeth Warren’s criticism of him personally.

Frankly, I’d rather glue my eyes shut than watch this show, but Elizabeth Warren will be on tomorrow, so I may have to tune in.

From the story: 

On Tuesday night, the Board of Supervisors unanimously adopted a resolution asking that Gov. Bob McDonnell and the General Assembly, at its next legislative session, consider implementing regulations that will cease such inordinate practices, particularly those that could exploit citizens called to serve in the armed forces.

Warren County officials are joining other localities in asking state legislators to enact strict laws that will prohibit predatory lending practices in Virginia.

Obviously, the industry’s critics are conducting a campaign in the state.  Local city officials don’t wake up and do these resolutions without pressure from advocacy groups.