Payday Pundit

The Virginia Daily Press calls for an “all-out assault on both payday and car title lending.”  
We suspect the legislature will want to see how the new law on payday lending works before revisiting the issue.

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This is over the top.  In the Virginia Daily Press today,  a guest writer invokes one of the greatest men who ever lived, William Wilberforce (see the movie “Amazing Grace” to learn more), in his screed against payday lenders: 
This commission can act with the boldness of William Wilberforce, the 19th century reformer who, against the powerful opposition […]

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The Virginia Daily Press has yet another over-the-top editorial bashing the payday lending industry.  Of course, one sentence in the editorial demonstrates that they still don’t know what a payday loan is:
Even with the limit set by the charade of a “reform” passed by this year’s General Assembly, repeat and repeat and repeat customers are […]

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What could they possible be talking about?   How about a government bonus plan that calls on service members to take a bonus now in exchange for reductions of their retirement plan?   We liked this quote from the Virginia Daily Press story:
The government’s goal in offering the CRB/Redux combination is to save hundreds of millions of dollars […]

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The Virginia Daily Press’s editorial whining about the influence of lobbying and political contributions from payday lenders brought this response from a Delegate Brenda Pogge:
Lately, I have been surprised to find myself in agreement with more and more of the editorials in the Daily Press, but this was not one of them.
Well, the Payday Pundit is […]

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So says a wise Virginian in this letter to the editor in the Daily Press.   Mr. Gerald Ross of Hampton says he’s never used a payday loan, but thinks the responsibility for personal financial decisions should be up to the individual, not the government.
The Payday Pundit agrees.  
 

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Tommy Moore discuss the negative impacts of payday loan bans in his most recent LTE.

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Having published multiple editorials in support of banning payday lending (including one this morning), the Daily Press has moved on to advocating for the ban of car title loans.
 
I’d like to ask the Daily Press if there is any form of short-term credit they believe Virginians should have access to.  Maybe the Daily Press should dedicate some of […]

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