To all the media hypocrit(ics)…
March 4, 2010 | Ohio, customers, industry critics, positive media coverage, regulation | Comments (0)Don’t let the coattails drag! Robert Nozar’s column in Cleveland’s Sun News this morning reveals the hypocritical nature of the media when it comes to payday lending:
Part of the answer to that question lies with the fact that there are members of the media who willingly hold the coats of those politicians so engaged in the battle to cast an unneeded and unwanted presence in those lives.
While those very same columnists and commentators would take issue with government intrusion in other areas, they are very willing to prod, cheer on and otherwise abet paternalistic politicians when their own senses of morality are challenged by that which they find distasteful.
Payday loans are one such “egregious” infringement on the “morality” of those who would presume to speak for the masses.
Never mind that those who object have never needed a payday loan themselves, and likely have never heard a legitimate complaint about a payday loan from a person who has taken out such a loan.
Dear media, please stop trying to control other peoples’ lives on something with which you have no experience.
Obviously
March 1, 2010 | Missouri, customers, industry | Comments (1)St. Joenews.com says this in an editorial today:
Defenders of the payday loan business in Missouri are partly right: There is a market demand for quick access to small loans that can be obtained with minimal hassle.
The editors are partly right, we’re 100% right.
What about the millions helped?
March 1, 2010 | California, customers, industry | Comments (0)The Los Angeles Times has a big story today about some payday lending companies loaning money to the unemployed and, of course, focuses on a couple of instances where the loans were a bad choice. It was good of them them to included this, though:
An unemployed borrower who gave his name only as Oscar exited Ace Cash Express in Van Nuys on a recent afternoon. He said he lost his job at a garden sprinkler installation company a year ago and has been depending on unemployment insurance ever since. He said he borrows against his benefit checks at payday loan stores to make ends meet.
“It helps me pay for food, for my apartment, other expenses,” he said in Spanish, tucking an envelope of cash into his wornjeans.
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And CFSA spokesperson Steven Schlein, had this to say in response to critics of the industry:
“Who are they to decide?” Schlein said. “We issue billions of dollars of credit. They issue platitudes and pats on the back.
“isn’t your average business”
February 25, 2010 | alternatives, customers | Comments (0)BankRate.com has an article on the show “Pawn Stars”:
Known for considering anything from routine watches and jewelry to rare American Civil War weaponry and Native American totems, the father and son drew the attention of The History Channel for a new reality show that’s part “Antiques Roadshow,” and part “American Chopper,” called “Pawn Stars.” Now, with the popularity of the show, the two, along with Rick’s son and eventual successor, Corey, are experiencing some growing pains. “I’ve gone from 15 employees to 27,” says Rick. “I’m trying to get everybody to understand how everything flows here because this isn’t your average business.”
Wow! A student calls for personal responsibility
February 25, 2010 | alternatives, customers, industry | Comments (1)Says overdraft fees are “fair” and “purposeful.” From the column in the University of South Carolina’s The Daily Gamecock:
I was once the victim of an overdraft fee. My bank charged me $30 for dipping $13 too deep into my checking account. Was it annoying? Absolutely. Was it my fault? You bet. I signed a piece of paper promising to pay a penalty if I failed to stay within the limits of my account. I failed, and the bank made sure that I kept my promise. Fair enough.
How to choose a payday loan
February 23, 2010 | customers, industry | Comments (0)Check ‘n Go blog continues its series.
Phony survey
February 23, 2010 | customers, federal legislation, industry | Comments (0)The AARP says seniors overwhelmingly support financial reform. From that, they extrapolate that this translates into support for the CFPA.
One thing the Payday Pundit learned from his years in politics and campaigns; if you put the word “reform” in any survey, people are for it.
How to choose a payday loan
February 16, 2010 | customers, industry | Comments (0)Check ‘n Go’s blog has some good advice.
Wow
February 16, 2010 | Wisconsin, customers, regulation | Comments (0)That’s all I can say about this letter in the Sheboygan Press from a local United Way agency head criticizing the Wisconsin legislation:
Have you gotten the feeling yet that the legislature is trying to take control of how individuals make financial decisions and that they are denying consumer choice by eliminating a viable financial option for individuals who have limited access to credit?I believe the bill infringes on consumer rights and choices, provides for the creation of an unnecessary database of personal financial
information and puts a burden on Wisconsin taxpayers and government at a time of fiscal constraints.
Affordable financial advice
February 5, 2010 | customers, industry | Comments (0)Some new posts over at Check ‘n Go’s blog.
