That’s what the Manchester (N.H.) Union Leader is saying regarding the anti-payday lending law that forced the closings of stores in the state.
Archive | Union Leader
The “anti-stimulus” bill
Posted on 12 February 2009.
Posted in industry, New Hampshire, regulation, Union Leader0 Comments
Payday delay? Tough luck, buddy
Posted on 02 January 2009.
Great editorial on the new 36% APR rate cap from New Hampshire’s Union Leader…
Starting today, hundreds of payday lenders’ employees face layoffs and thousands of their would-be customers will rack up late fees and bounced-check fees because legislators and the governor don’t approve of the type of loan they would have taken out to avoid those costs. By legislative and Lynch logic, it is better to pay a $30 bounced-check fee than $20 in interest on a $100 loan.
Payday loans often amount to a bad deal. But in some cases they make sense. Shutting down payday lenders was a disservice. The law ought to be repealed at the first opportunity.
Posted in industry, New Hampshire, positive media coverage, regulation, Union Leader2 Comments
You’re fired! Gov. Lynch issues pink slips
Posted on 12 May 2008.
Sunday’s editorial in the New Hampshire Union Leader asks, “What, if anything, is the governor going to do for the 200 private-sector workers he personally will make jobless at the start of next year?”
A few excerpts:
Last week legislators essentially outlawed payday lending and title lending in New Hampshire. The industry employs roughly 200 people in the state. All of them will be out of work by Jan. 1. That’s when House Bill 267 takes effect. Gov. Lynch, who ought to know better, has said he will sign the bill.
The 200 employees in the payday and title loan industry will have to find new jobs because they are unlucky enough to work in a field the governor doesn’t approve of. The state has eliminated their jobs, and tough luck to them.
When it comes to making decisions about people’s livelihoods, Gov. Lynch has a history of picking winners and losers based on purely political calculations.
By banning payday lending, Gov. Lynch and legislators in New Hampshire will now have to answer to the 200 employees they’ve put out of work and the thousands of customers whose credit options have been yanked away.
Posted in employees, industry, media coverage, New Hampshire, positive media coverage, regulation, states, Union Leader0 Comments
- Round of applause
- Let’s try not to make generalizations
- Quote of the day (from Tuesday’s Senate Banking Committee Hearing)
- Dear banks, make your disclosures more clear, Date says
- Cordray nomination passes Senate Banking Committee
- President Obama blasts BofA’s $5 debit card fee
- CFPB says ‘We’re listening’
- Update on Cordray
- And on that same topic, your Quote of the Day
- Do restrictions work, or are consumers going to unregulated entitites?
-
Payday Pundit: Thank you for asking! Please feel free to use our ...
-
-
Jer Ayles-Ayler: We can only hope a journalist at Today will attemp...
-
Phil: I think check n go is thriving in this fierce comp...
-
Donya Jadlowiec: Hello could I use some of the material found in th...
alternatives Arizona Arkansas ban bank fees bans best practices bounced check fees Center for Consumer Freedom Center for Responsible Lending Cleveland Plain Dealer Colorado Columbus Columbus Dispatch consumer choice credit cards customers D. Lynn DeVault employees FDIC financial choice HB 545 Herb Sandler Issue 5 job loss local issues Missouri New Hampshire North Carolina Ohio Oregon overdraft protection payday loan alternatives rally rate cap rate caps research South Carolina South Carolina payday lending state regulation The State Virginia WalletPop Wall Street Journal washington state payday lending
-
Stay up to date
- Subscribe to the RSS feed
- Subscribe to the feed via email
© 2011 Payday Pundit. Powered by CFSA.
