Payday Pundit

This is about the fifth or sixth story we’ve posted in the last several weeks about a Utah city restricting check cashers and payday lenders:
Provo would become the second Utah County city to regulate the lenders, joining Salt Lake County and communities in limiting where and how many check-cashing operations can set up shop.
    While […]

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For immediate release:
Friday, August, 29, 2008
 
Ohioans For Financial Freedom
 Makes Announcement on Signature Collection Efforts
Vote No on Issue 5
 
Who:                Ohioans For Financial Freedom (committee of Ohio citizens, consumers and businesses).
                       
 
What:               An announcement regarding the status of signature collection efforts and campaign to inform Ohioans their financial choices will be taken away, along with 6,000 […]

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Yet another person that doesn’t understand the difference between check cashers and payday lenders. 

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We don’t know enough about the case to comment, but we thought this story about two law students leading a class action against an Internet lender was interesting: 
Aspiring attorneys Nicholas Watt and Meredith Gray spent a good portion of their summer literally dotting i’s and crossing t’s.
As enrollees in the current session of the University […]

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The Pundit was reading this nice story about helping people get banked and then I to this part: 
Based on U.S. Census data, it is estimated that 6,000 households in the City of Evansville are unbanked. Some families spend as much as $75 a month, or $900 per year, on cashing checks and getting cashier’s checks to […]

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That’s how far apart the Springfield, IL city council wants payday and title loan companies.  Remember, not 1600, not 1400, it’s 1500.  Fifteen hundred feet apart creates urban utopia.  From the story: 
Although the petition was passed by the commission Wednesday, several members expressed confusion about discerning which companies would be limited. Some said they weren’t sure […]

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Oops, never mind.   If city councils in the area keep meddling in free enterprise, the Payday Pundit won’t feel very welcome.  This story is about the city council in North Kansas CIty:
The moratorium applies to Burlington Street between 10th and 32nd Avenue and will be in place while the city does a comprehensive study of […]

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Committee Calls on Bill Faith To Retract False Statement
 
Columbus― The Committee of Ohioans For Financial Freedom today demanded Bill Faith immediately retract completely false allegations he made about circulators allegedly paying two individuals $1.00 to sign a petition, or face serious legal actions.
 
“The Committee has investigated this allegation of two homeless individuals allegedly […]

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Yes, I know, the pothole joke is getting, but not as old a city councils, such as the one in Provo, Utah contemplating restrictions on payday lending stores: 
City Councilwoman Cindy Richards said the issue has come to a head because she’s seen fast-cash loan stores popping up around her district, some within blocks of each […]

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Bonnie Schoenberg, an Illinois payday lender, has a letter today in the Daily Herald: 
If responsible short-term loans are shut down for people outside the credit mainstream, they will have no choice but to turn to high interest credit cards and unregulated Internet loans (at rates in excess of 600 percent) or succumb to costly bank […]

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