Payday Pundit » NPR

Who needs a fact checker?

Payday Pundit — Tue, 27 Jul 2010 15:28:23 +0000

The NPR station in Colorado reports on the new payday lending regulation there and mentions that payday lenders in the state are rightly concerned that consumers won’t have access to emergency funds when a need arises. To refute the point, they quote the co-chair of “Coloradans for Payday Lending Reform” simply asserting that there are less expensive alternatives available. Oh really? Well, I certainly wouldn’t want a news organization to strain anything, ya know, calling alternative providers, doing the math to compare the rates, seeing how many people would actually be eligible to use the services in member-only credit unions, checking on the membership fees themselves…

Yeah, fact checking is a tough job, and apparently nobody has to do it as long as you’ve got someone with a vested interest willing to make a declaration.

Comment of the Day

Payday Pundit — Thu, 18 Mar 2010 15:59:00 +0000

We see that regular Payday Pundit reader Jon Schultz commented on NPR’s website about the “Marketplace” piece we post below:

The campaign against payday lending is a witch hunt. You cannot judge a loan by its APR without considering other factors such as the amount and term of the loan, the borrower’s other alternatives, and the lender’s costs. Even the nonprofit payday loan offered as a public service by Goodwill Industries has a 252% APR.

These consumer groups need targets to criticize to justify their existence. With their invalid stance on this issue they are hurting the very people whom they claim to be helping. Payday loans are used by people in emergencies and they save many people from having to pay higher fees of various kinds. The critics ignore customer satisfaction surveys which show that a large majority of payday loan borrowers feel they have benefited from the service.

This was a biased presentation. I expected better from NPR. Read George McGovern, please:

http://online.wsj.com/public/article_print/SB120485275086518279.html

No

Payday Pundit — Mon, 12 Oct 2009 00:06:49 +0000

NPR had a story this weekend about the CFPA possibly losing steam. I just don’t see it. It has a lot of momentum.

“Political pressure on banks”

Payday Pundit — Wed, 30 Sep 2009 11:16:48 +0000

No kidding. NPR has caught up to the overdraft protection issue.

More fair and balanced

Payday Pundit — Tue, 28 Apr 2009 12:38:26 +0000

NPR’s Marketlace has a very balanced story on payday lending. Pay special attention to the University of Chicago professor who discusses the need for the loans and makes some reasonable suggestions.

Once in a blue moon

Payday Pundit — Mon, 15 Dec 2008 12:16:28 +0000

Not often we post an NPR story, but this is a pretty good piece on the Feds crack down on credit cards.

Confusion over Issue 5

Payday Pundit — Thu, 23 Oct 2008 13:41:59 +0000

NPR covers the issue of Ohio voters being confused on whether a YES or NO gets the appropriate results they want.

A vote YES sustains the rate cap. A vote NO overturns the rate cap. It’s that simple.

Front lines of the economic crisis

Payday Pundit — Thu, 16 Oct 2008 21:17:51 +0000

And a payday lender is there helping neighbors out. This NPR story is worth a read and listen.

Arizona’s NPR takes a look at AZ Ballot Propositions, including Prop 200

Payday Pundit — Thu, 09 Oct 2008 13:59:01 +0000

Here and Now: AZ Ballot Propositions – KJZZ 91.5 FM

Source: kjzz.org

KJZZ’s Here and Now examined the eight ballot propositions on the November 4th ballot. The show includes discussions with proponents and opponents of props 105, 202, 200 and 201. The Arizona Republic’s Bob Robb provided analysis on the others. Listen here.

NPR debate on payday lending

Payday Pundit — Wed, 13 Aug 2008 15:59:53 +0000

Click on this link and then the audio link to listen to a 12-minute debate NPR had yesterday about payday loans and minority communities. Niger Innis of the Congress on Racial Equality defended the industry and empasized the need for consumer choice. I think any objective listener will agree that he won the debate hands down.