Payday Pundit

News and Information About The Payday Lending Industry

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Entries Tagged as 'research'

Wow! Fed exec says payday loans “properly priced”

November 14th, 2008 · No Comments

Among the misunderstood elements of the housing crisis is the role of subprime mortgages, said {Paul S. }Mr. Willen, who cautioned that he was speaking yesterday for himself and not for the Federal Reserve Bank. Subprime loans, which are typically risky loans, did not cause the housing crisis on their own, he said. Payday lenders […]

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Tags: research

Oregonians hurt by rate cap law

November 12th, 2008 · No Comments

A new study by Dartmouth economist Jonathan Zinman says that Oregonians suffered after payday lenders left the state following passage of the 36% rate cap law.  From the news release:
Survey data on 400 payday loan users collected before and after the imposition of an interest-rate cap in Oregon suggest that the cap caused deterioration in […]

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Tags: Oregon · industry · research · states

“Center for Irresponsible Payday Loan Studies”

November 4th, 2008 · No Comments

That’s what Lawrence Meyers calls the Center for Responsible Lending in the Bloggernewsnetwork piece:
 {Center for Responsible Lending} parade{s)}around ridiculous studies that have flawed data collection techniques, draw false conclusions from this flawed data, then try to snooker unsuspecting readers that this smoke-and-mirrors job supports their assertion. Just to reiterate, the CRL has its own loan […]

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Tags: Center for Responsible Lending · industry critics · research

Noise in Colorado

November 4th, 2008 · No Comments

Could be another legislative battle in Colorado next year according to the Rocky Mountain News:
Payday lending increased by only 1 percent in Colorado last year, but state officials say they still are worried by continued high interest rates, an increase in borrower bankruptcies and consumer debt dependency.
That’s quite a sentence.   Do these consumers that officials […]

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Tags: Colorado · Rocky Mountain News · industry · regulation · research · states

What payday lenders can tell you about the current crisis

October 6th, 2008 · No Comments

This provocactive piece doesn’t trash payday lending but explains how payday lenders understand the risks of making loans better than many of the mortgage lenders. 

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Tags: industry · personal finance · research

My bad

October 2nd, 2008 · No Comments

The Payday Pundit misses this interesting post on PDLindustryblog about how payday lending fill the credit gap for many borrowers.

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Tags: industry · research

Payday loans and banks

September 29th, 2008 · 1 Comment

Here’s a very interesting essay that discusses how payday loans work, why they’re a great alternative to bank overdraft protection, and why critics are wrong.   craig-parr-com220-essay 

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Tags: Center for Responsible Lending · alternatives · industry · industry critics · research

Living paycheck-to-paycheck on six figures

September 12th, 2008 · No Comments

Interesting column today on Walletpop: 

Some 21 percent of those with salaries of $100,000 or more say they are living paycheck to paycheck, according to a recent survey conducted by CareerBuilder.com.
While experts are quick to acknowledge that high gasoline prices, the slumping housing market and a generally weak economy are weighing on consumers’ finances, they also […]

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Tags: industry · personal finance · regulation · research

What is predatory lending?

September 2nd, 2008 · No Comments

They’re thinking about this over at pdlblogspot.org. 

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Tags: industry · research

Failing to give choices returns a passing grade

August 28th, 2008 · No Comments

Boston’s National Consumer Law Center and Washington’s Consumer Federation of America give the Bay State two F’s for giving their citizenry financial choices.  There is something very wrong with this picture.

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Tags: Consumer Federation of America · Massachusetts · regulation · research