Payday Pundit » Tucson Citizen

Better math education

Payday Pundit — Wed, 14 Jan 2009 12:17:57 +0000

In the Tucsan Citizen no less, a paper that hasn’t been kind to the payday lending industry:

Simple fees get translated into confusing annual percentage rates. A short-term payday loan doesn’t sound like a good solution when described as 391 percent annual percentage rate. But analyzed the same way, it’s a better idea than bouncing a check where common bank overdraft fees can be as much as 4,954 percent APR. (Actually, in both cases, the percentage fees are not accurate ways to describe the cost.)

We don’t care for this opinion

Payday Pundit — Fri, 31 Oct 2008 12:13:55 +0000

Because it was written by a child throwing a tamper tantrum. From today’s Tucson Citizen:

In exploiting its own negative image, the {payday lending} industry is running TV ads lambasting predatory lenders and urging you to “END RIP-OFFS,” “end unfair practices” and “bring payday lenders under control.”

Oh, please. They’ve never seen smart, clever tactics to win a ballot initiative? These people need to grow up.

An expected development in AZ

Payday Pundit — Tue, 14 Oct 2008 12:34:19 +0000

A credit union group opposes the payday lending initiative. The Payday Pundit is sure they’re doing it out of the goodness of their heart, not because they benefit financially.