Payday Pundit

“We know more about what’s going on with the economy than the Federal Reserve Bank,” said David Schoeneman {pawnshop owner}, who first noticed traffic inching upward at his Chicago Heights store about nine months ago. Gas prices have dipped recently, but any relief has been counteracted by new job woes, he said.
The whole story is […]

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Why take a cheap shot at payday loans in a discussion of the Wall Street bailouts?  While access to credit will become tougher and tougher for working people, payday lenders will always be there helping people pay bills. 
 

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The Pundit has been thinking about this question quite a bit recently as the media attention and “special series” features have been ratcheted up.  It’s all reminiscent of the final season of HBO’s The Wire, which partially focuses on the fictional newsroom of the Baltimore Sun.  In explaining the “new thinking” of newsrooms around the […]

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This weekend story from the Chicago Tribune on Internet lending drew a sharp rebuke from NewsBusters, a media watchdog group.  NewBusters story begins:
The risks and benefits of so-called payday lending are certainly worthwhile of media coverage, and genuine instances of fraud or exploitation are and should be fodder for criticism in the print media. But it helps […]

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 A letter to the editor from Tommy Moore can be found on the Chicago Tribune website.  It’s recommended reading:
Consumers have a right to determine their own financial destiny and make their own choices for what’s best for their financial situation and their families.

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A lending company called AmeriCash is criticized by consumer groups in this Chicago Tribune article for steering costumers into longer-term consumer loans instead of payday loans.    
The Payday Pundit knows nothing about AmeriCash, but I think this article proves that there’s no winning with consumer groups.   
 

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