Payday Pundit

This excerpt from a church bulletin was sent to us by a payday lending supporter in Ohio upset that his church was interfering with his right to make his own financial choice:
Payday Lending Reform
The national payday lobby was granted the go-ahead by Ohio’s
Attorney General to start circulating petitions in support of a
referendum to rescind the […]

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Over at paydayfacts.org they’ve posted a heartfelt letter to Ohio voters from a payday lending employee. 

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In an otherwise nice story about financial literacy, the reporter at the Newark Advocate in Ohio decides to take a cheap shot a payday lenders. 

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This is the first story on the late-breaking court ruling yesterday.  The decision has not impact on the referendum.  From the piece:
Although it is a loss for payday lenders, the decision does not affect their current referendum effort. On Sunday, the lenders’ coalition turned in 422,000 signatures, and county boards of elections will determine whether […]

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For immediate release:
Thursday, September 4, 2008
 
Ohioans For Financial Freedom
Want Voice Heard On Constitutional Challenge
 
Columbus― Ohioans For Financial Freedom said today they will continue to work to ensure Ohioans can exercise their Constitutional right to repeal a bad law, and anticipate they will take their arguments to a higher court.
 
In response to a 10th […]

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(We missed this from yesterday so reprinted the entire letter here)

Payday lending law unfair, should be repealed
Cincinnati.com
9/3/2008a
Posted by LettersEditor
In reference to how bad an idea House Bill 545 really is, it’s the attempt by the Ohio government to destroy the payday lending industry and cost 6,000 more Ohioans their jobs. This law would cost […]

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EasyMoney, a payday lender in Alabama, is joining the local association in the state, an association with a strong code of practices.  
A few companies in the industry that don’t have good practices drive negative media coverage that hurts everyone.     
Update:  Here’s the link to BorrowSmart’s great website.

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The Buckeye Institute blog has a great post today: 
If these {Credit Union} loans are such a good deal why do we need a law that effectively bans payday lending? Payday lenders can offer their products and credit unions can offer their products. If those who attack payday lending are right that borrowers are being exploited and […]

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The crazies can’t give up.   This attack on the petition gathering procedures went nowhere before, going nowhere now.

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Great letter in today’s Coshocton Tribune: 
For years, people have used the short term loans provided by payday lenders in their times of need. Yet the state thinks that we should not be free to make that adult decision. They would rather invade our right to privacy in these matters than to let people make responsible decisions. […]

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