Payday Pundit

Checksmart is a national payday lending company headquarted in Oho.  CEO Ted Saunders made some frank comments to the Newark (Ohio) Advocate:
“Nobody is going to do business under what HB 545 created,” Saunders said. “I have 700 employees in the state, and I’d like to make a go of it. We have a window of […]

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Some bank employee in Ohio urges a YES vote on Issue 5 (a Yes vote retains the rate cap law).  No where in this letter does he say his bank can give customers a short-term loan.

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The Newark (OH) Advocate couldn’t decide whether a YES or NO vote was better on Ohio issue 5, so the editorial board wrote a vote YES editorial and a vote NO editorial.  
Maybe this is a sign of how close the vote will be.

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This article contains some video of Bill Faith, anti-payday lending extremist, and Ted Saunders of CheckSmart, an Ohio-based payday lender.    Click on the links a little bit below the pictures.
We think Saunders won this hands down.

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I think this article makes pretty clear which Attorney General candidate in Ohio is supportive of the payday lending industry. 

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A powerful letter to the editor in Ohio’s Newark Advocate from a manager at a Cashland store.

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Mike Sussman appreciates the fact the payday loans are completely undertstandable as opposed the his incomprehensible credit card statement.       His column in the Newark Advocate concludes with this:
I have spent most of my life in the lending and lending subsidiary business. It has been my experience that banks will make ridiculous loans to questionable business […]

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Melissa Lutz, owner of Fast Check Cash Advance in Newark, Ohio, is worried about her customers if the Ohio House legislation becomes law: 
 We have a lot of customers that are going to have nowhere to go to get short-term loans,” she said. “If our legislature will look at other states that have (capped lending rates) […]

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