Payday Pundit

I wish these so-called consumer groups (and the government) would keep their noses out of the lending business. What ever happened to the free market.

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The Community Financial Services Association of America has hit back at a phony “consumer” group scorecard which grades states on their lending rules.  From the CFSA news release: 

The Consumer Federation of America (CFA) and the National Consumer Law Center (NCLC), two out-of-touch “consumer” groups which feel they have the authority to grade state lending laws, were […]

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This excerpt from a church bulletin was sent to us by a payday lending supporter in Ohio upset that his church was interfering with his right to make his own financial choice:
Payday Lending Reform
The national payday lobby was granted the go-ahead by Ohio’s
Attorney General to start circulating petitions in support of a
referendum to rescind the […]

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Over at RTOonline they are recognizing Amscot Financial for its community service efforts. 

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Over at paydayfacts.org they’ve posted a heartfelt letter to Ohio voters from a payday lending employee. 

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In an otherwise nice story about financial literacy, the reporter at the Newark Advocate in Ohio decides to take a cheap shot a payday lenders. 

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This is the first story on the late-breaking court ruling yesterday.  The decision has not impact on the referendum.  From the piece:
Although it is a loss for payday lenders, the decision does not affect their current referendum effort. On Sunday, the lenders’ coalition turned in 422,000 signatures, and county boards of elections will determine whether […]

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For immediate release:
Thursday, September 4, 2008
 
Ohioans For Financial Freedom
Want Voice Heard On Constitutional Challenge
 
Columbus― Ohioans For Financial Freedom said today they will continue to work to ensure Ohioans can exercise their Constitutional right to repeal a bad law, and anticipate they will take their arguments to a higher court.
 
In response to a 10th […]

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The Social Security Administration today announced its long-anticipated pilot program to provide social security benefits with debit cards.   The program begins in a dozen western states.

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(We missed this from yesterday so reprinted the entire letter here)

Payday lending law unfair, should be repealed
Cincinnati.com
9/3/2008a
Posted by LettersEditor
In reference to how bad an idea House Bill 545 really is, it’s the attempt by the Ohio government to destroy the payday lending industry and cost 6,000 more Ohioans their jobs. This law would cost […]

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